Explanation:
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), enacted in 2010 in response to the 2007-2008 financial crisis, created the Consumer Financial Protection Bureau (CFPB) as an independent financial regulator to oversee and regulate consumer finance markets.
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Q.70 Which regulations resulted in the formation of the Consumer Financial Protection Bureau (CFPB) as an independent financial regulator to regulate consumer finance markets?
A
The Markets in Financial Instruments Directive (MIFID)
B
Dodd-Frank Act
C
The Financial Industry Regulatory Authority (FINRA)
D
The Volcker Rule