The Consumer Financial Protection Bureau is an independent agency hous

QUESTION

The Consumer Financial Protection Bureau is an independent agency housed in the Federal Reserve with its own budget and director and the authority to prevent or correct financial abuses. Which of the following does the CFPB NOT do?

A) restrict unfair, deceptive, or abusive practices
B) monitor financial markets for new risks to consumers
C) protect people from bankruptcy
D) take consumer complaints
E) create, supervise, and enforce consumer protection laws

ANSWER

Answer: C
Explanation: C) The Consumer Financial Protection Bureau is set up to protect consumers from unfair practices by other businesses but does not protect consumers against their own habits and situations that could lead to bankruptcy.