The Responsibilities Granted to the CFPB That Has Been Written

question 70

Multiple Choice

The responsibilities granted to the CFPB that has been written in the legislation are extensive and include authority to ______ with assets over $10 billion.

• A)examine and enforce regulations for pension funds
• B)examine and enforce regulations for corporate executives
• C)oversee corporations with financial problems
• D)examine and enforce regulations for banks and credit unions

Understand the relationship between legal acts and morality.

Define ethics and distinguish it from legal standards.

Appreciate the concepts of rule utilitarianism versus act utilitarianism.

Explore the concept of ethical accountability for artificial entities such as corporations.

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Definitions:

Household Income

Represents the total gross income of all members of a household, encompassing all sources of income including salaries, bonuses, dividends, and any other income streams before taxes.

Federal Poverty Level

A measure of income issued annually by the Department of Health and Human Services used to determine eligibility for various federal and state assistance programs.

EIC

The Earned Income Credit (EIC) is a tax credit for low-to-moderate-income working individuals and families, particularly those with children.

Qualifying Child

A dependent who meets specific IRS criteria, making the taxpayer eligible for certain tax benefits.