Consumer Protection Agencies and Legislation

Front

What is the primary role of the SEC?

Back

To ensure fairness in the securities markets

Front

How does the FTC aim to protect consumers?

Back

By preventing anticompetitive and deceptive practices

Front

What is the focus of the CFPB?

Back

To ensure consumer financial products are fair and transparent

Front

What is the primary mission of the Federal Deposit Insurance Corporation (FDIC)?

Back

To insure deposits and manage receiverships

Front

Which agency is responsible for insuring deposits at federally insured credit unions?

Back

National Credit Union Administration (NCUA)

Front

How does the FDIC contribute to the stability of the financial system?

Back

By insuring deposits and examining financial institutions

Front

What role does the NCUA play in relation to credit unions?

Back

It charters and regulates federal credit unions

Front

What is the primary purpose of the Truth in Lending Act (1968)?

Back

To force creditors to disclose all loan terms before finalization.

Front

How did the Truth in Lending Act (1968) impact the use of annual percentage rates (APR)?

Back

It encouraged the standard use of APR for loan comparison.

Front

What is the primary purpose of the Fair Debt Collection Practices Act (FDCPA) of 1977?

Back

To set guidelines for debt collectors' behavior