The Special Office Created by the Dodd-Frank Act to Police

question 160

Multiple Choice

The special office created by the Dodd-Frank Act to police financial industry practices and protect borrowers is called the:

• A)Food and Drug Administration.
• B)Consumer Financial Protection Bureau.
• C)Board of Governors.
• D)Consumer Protection Agency.

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Definitions:

Assignee

The person or party to whom rights or interests have been transferred by another party, called the assignor.

Assignor

The party in an agreement who transfers rights or interests to another party, known as the assignee.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specified sum of money to the bearer or to the order of a specified person.

Statutory Assignment

The transfer of rights or benefits from one party to another as per the specifications and regulations of statutory laws.