Willow Is Concerned That She Is Not Getting Full Disclosure

question 113

Multiple Choice

Willow is concerned that she is not getting full disclosure of information from a mortgage broker who is hoping to refinance the mortgage on her house. Having recently studied business law, you suggest to Willow that she contact the ________ that was formed after the Dodd-Frank Wall Street Reform and Consumer Protection Act became law.

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

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Definitions:

Totten Trust

A Totten Trust is a type of informal trust account created by depositing funds into a bank account with a beneficiary designated to receive the balance upon the depositor's death.

Savings Account Trust

A trust account set up at a bank or financial institution, where money is held under a trust agreement for the benefit of the beneficiaries.

Intestacy Statutes

Laws that govern the distribution of a person's estate if they die without a valid will, determining how their assets are divided among surviving relatives.

Legally Adopted

Refers to the formal process by which an adult becomes the legal parent of someone who is not their biological child.