The bureau performs the following functions: Enforce federal anti-discrimination laws with respect to consumer finance. Make rules, supervise, and enforce federal consumer financial protection laws. Alert consumers to possible risks in financial markets.
What are the responsibilities of the Consumer Financial Protection Bureau?
Our work includes: Rooting out unfair, deceptive, or abusive acts or practices by writing rules, supervising companies, and enforcing the law. Enforcing laws that outlaw discrimination in consumer finance.
What are the responsibilities of the newly created Consumer Financial Protection Bureau?
The CFPB works to prevent unfair, deceptive and abusive practices from financial companies by taking action against those that break the law. The bureau also works to educate and empower consumers to make the best financial decisions for themselves.
What is the function of the Consumer Financial Protection Bureau quizlet?
The Consumer Financial Protection Bureau was originally created to do what? Receive and investigate complaints from consumers, and enforce laws pertaining to the banking and financial system.
Which of the following legislation created the Consumer Financial Protection Bureau quizlet?
In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act.
What is the Consumer Financial Protection Act?
The Consumer Financial Protection Act of 2010 is an amendment to the National Bank Act. Its role is to increase oversight and help to protect consumers with financial transactions. … The CFPB’s role is to centralize the regulation of various financial services and products.
What is a consumer finance?
Consumer finance is a form of lending that provides credit to a consumer for personal or household use.
What is Dodd-Frank Act summary?
An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.
Which legislative action created the Consumer Financial Protection Bureau?
The CFPB was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The purpose of the CFPB is to promote fairness and transparency for mortgages, credit cards, and other consumer financial products and services.
What is the Consumer Financial Protection Bureau and who runs it?
Rohit Chopra, Director
The CFPB is a unit of the Federal Reserve System charged with protecting families and honest businesses from illegal practices by financial institutions, and ensuring that markets for consumer financial products and services are fair, transparent, and competitive.
Which of the following is a primary function of managed care?
Simply stated, managed care is a system that integrates the financing and delivery of appropriate health care using a comprehensive set of services. Managed care is any method of organizing health care providers to achieve the dual goals of controlling health care costs and managing quality of care.
What does the Federal Sentencing Guidelines for organizations focus on?
Terms in this set (15)
What does the Federal Sentencing Guidelines for Organizations (FSGO) focus on? … These guidelines, developed by the U.S. Sentencing Commission, apply to all felonies and class A misdemeanors committed by employees in association with their work.
Which of the following is a benefit for some monopolies?
Monopolies are generally considered to have several disadvantages (higher price, fewer incentives to be efficient e.t.c). However, monopolies can also give benefits, such as – economies of scale, (lower average costs) and a greater ability to fund research and development.
What is the purpose of the Mortgage Reform and Anti Predatory Lending Act quizlet?
The Mrtgage Reform and Anti-Predatory Lending Act requires MLOs to apply qualified loas as one way to prevent predatory lending practices.
Which legislation designates federal disclosure requirements under CFPB?
Federal Mortgage Disclosure Requirements under the Truth in Lending Act (Regulation Z) | Consumer Financial Protection Bureau.
Which of the following is a government sponsored agency that specializes in mortgage securitization?
Most mortgage-backed securities are issued by the Government National Mortgage Association (Ginnie Mae), a U.S. government agency, or the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), U.S. government-sponsored enterprises.