Asked by Tyasia Dennis on Jun 16, 2024

verifed

Verified

The _____ is an independent agency within the Federal Reserve System that "regulate[s] the offering and provision of consumer financial products or services under the Federal consumer financial laws."

A) Consumer Financial Protection Bureau
B) Federal Reserve
C) World Trade Organization
D) Department of Justice
E) Federal Trade Commission

Consumer Financial Protection Bureau

A regulatory agency in the United States tasked with overseeing financial products and services that are offered to consumers, ensuring their fair, transparent, and lawful treatment.

Federal Consumer Financial Laws

Legislation enacted by the federal government to protect consumers in financial transactions and ensure fair treatment.

  • Acquire knowledge on the main components of critical financial and ethical statutes, including the Sarbanes-Oxley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act.
verifed

Verified Answer

AM
Aurora MunozJun 19, 2024
Final Answer :
A
Explanation :
The Consumer Financial Protection Bureau is the agency within the Federal Reserve System that is responsible for regulating the offering and provision of consumer financial products or services under the Federal consumer financial laws. The Federal Reserve has a different role, focused on monetary policy and the stability of the financial system. The World Trade Organization and the Department of Justice are not part of the Federal Reserve System, and the Federal Trade Commission has a broader focus on promoting consumer protection and competition in the marketplace.