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In an Attempt to Regulate Home Mortgage Lending After the Mortgage

question 15

Multiple Choice

In an attempt to regulate home mortgage lending after the mortgage crisis of 2007, which of the following acts created an independent oversight agency tasked with the responsibility of overseeing and enforcing Federal consumer financial protection laws, enforcing anti-discrimination laws in consumer finance, restricting unfair, deceptive or abusive acts or practices, receiving consumer complaints, promoting financial education, and watching for emerging financial risks for consumers?


Definitions:

Professional Corporation

A corporation composed of professionals (such as lawyers, doctors, accountants) who offer their services to the public.

Attorney

A professional licensed to practice law, providing legal advice, and representing individuals and entities in legal matters.

Agent

An individual or entity authorized to act on behalf of another person or entity in contractual or legal matters.

Liquidation

The process of bringing a business to an end and distributing its assets to claimants, often in the context of bankruptcy.

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