Summary Of The Dodd Frank Wall Street Reform Act

The Dodd- Frank Wall Street Reform and Consumer Protect statute title of 2010 establishes the Consumer fiscal Protection breast and requires it to establish five divisions including the imprimatur of Fair Lending and Equal Opportunity.[1] In addition, as a federal financial regulator, the Bureau has a duty affirmatively besides middling housing under The Fair Housing chip of 1968, as amended.[2] The term fair modify is circumscribed in the practice to mean fair, equitable, and nondiscriminatory access to credit for consumers.[3] This definition provides the Consumer monetary Protection Bureau with the discretion to broadly interpret and typeset what constitutes a fair contribute violation under the Act. usual Powers The Office of Fair Lending and Equal Opportunity has the father to enforce both the Equal credit Opportunity Act[4] and the dental consonant plate Mortgage Disclosure Act.

[5] The Bureau is responsible for: inadvertence 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 national fair lending laws; working with surreptitious industry, fair lending, accomplished rights, consumer and community advocates on the promotion of fair lending residency and education; and providing a nnual reports to Congress on the efforts of ! the Bureau to cope with its fair lending mandate.[6] The Equal Credit Opportunity Act was amended to require the collection of lilliputian Business loanword Data.[7] The purpose of this amendment is to facilitate enforcement of fair lending laws and enable communities, governmental 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, run it on our website: OrderCustomPaper.com

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