Explanation:
The Consumer Financial Protection Bureau (CFPB) was established under the Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. It was created as an independent regulatory agency specifically to oversee and regulate consumer financial products and services in the aftermath of the 2007-2008 financial crisis.
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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
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