The Dodd-Frank Wall Street Reform and Consumer Protection Act Evolved

question 166

Multiple Choice

The Dodd-Frank Wall Street Reform and Consumer Protection Act evolved from the mortgage industry meltdown. The agency that was created to provide consumers with accurate information so they can make informed decisions about loans and other financial instruments is known as the

• A) Consumer Financial Protection Bureau (CFPB).
• B) Federal Trade Commission (FTC).
• C) Due Diligence Agency (DDA).
• D) Financial Fairness Consortium (FFC).

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Definitions:

Information

A set of data or details about a specific topic that is conveyed or represented by someone or something.

Door-In-The-Face Technique

A compliance method involving first making a large request that is likely to be refused so that a smaller request, the actual desired outcome, is then more readily accepted.

Smaller Request

A lesser or more moderate appeal or plea, often used in techniques of persuasion or negotiation.

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors in explaining others' behavior.