Practice Quiz

IAPP CIPP/US Practice Exam

Category - Professional

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was implemented to correct practices of which of the following?
  1. Banks and retailers
  2. Auto manufacturers and banks
  3. Banks, mortgage lenders, and credit rating agencies
  4. Stockbrokers and banks
Explanation
Answer: C - The Dodd-Frank Wall Street Reform and Consumer Protection Act was implemented to correct the practices of banks, mortgage lenders, and credit rating agencies. These sectors of the financial system were given the blame for the financial crisis in 2007-2008. One job of Dodd-Frank was to make it easier for consumers to understand the terms of mortgages before executing a mortgage agreement.
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