Summary Of The Dodd Frank Wall Street Reform Act

The Dodd- Frank Wall Street Reform and Consumer Protect championship of 2010 establishes the Consumer fiscal Protection self-confidence and requires it to establish five divisions including the authorisation of Fair Lending and Equal Opportunity.[1] In addition, as a federal financial regulator, the Bureau has a duty affirmatively but middling housing under The Fair Housing moment of 1968, as amended.[2] The term fair modify is circumscribed in the wager to mean fair, equitable, and nondiscriminatory access to credit for consumers.[3] This definition provides the Consumer financial Protection Bureau with the discretion to broadly interpret and bushel what constitutes a fair contribute violation under the Act. ordinary Powers The Office of Fair Lending and Equal Opportunity has the bear to enforce twain the Equal credit Opportunity Act[4] and the alveolar plate Mortgage Disclosure Act.

[5] The Bureau is responsible for: worry and enforcement of national laws intended to ensure the fair, equitable, and nondiscriminatory access to credit for both individuals and communities that atomic number 18 enforced by the Bureau; coordinating fair lending efforts of the Bureau with other national agencies and State regulators, as get hold of; promoting consistent, efficient, and effective enforcement of federal fair lending laws; working with surreptitious industry, fair lending, civic rights, consumer and community advocates on the promotion of fair lending conformance and education; and providing annual report s to Congress on the efforts of the Bureau t! o effect its fair lending mandate.[6] The Equal Credit Opportunity Act was amended to require the collection of lilliputian Business loan Data.[7] The purpose of this amendment is to facilitate enforcement of fair lending laws and enable communities, political entities, and creditors to identify business and community evolution needs and opportunities of women-owned, minority owned, and small businesses.[8] This...If you want to get a full essay, couch it on our website: OrderCustomPaper.com

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