Summary Of The Dodd Frank Wall Street Reform Act

The Dodd- Frank Wall Street Reform and Consumer Protect title of respect of 2010 establishes the Consumer fiscal Protection chest of drawers and requires it to establish five divisions including the say-so of Fair Lending and Equal Opportunity.[1] In addition, as a federal financial regulator, the Bureau has a duty affirmatively boost middling housing under The Fair Housing mo of 1968, as amended.[2] The term fair modify is circumscribed in the do 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 make what constitutes a fair contribute violation under the Act. oecumenic Powers The Office of Fair Lending and Equal Opportunity has the shake up to enforce two the Equal credit Opportunity Act[4] and the dental plate Mortgage Disclosure Act.

[5] The Bureau is responsible for: oversight 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 official fair lending laws; working with surreptitious industry, fair lending, civic rights, consumer and community advocates on the promotion of fair lending accordance and education; and providing annual repo rts to Congress on the efforts of the Bureau! to fill up its fair lending mandate.[6] The Equal Credit Opportunity Act was amended to require the collection of lilliputian Business lend 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, nonage owned, and small businesses.[8] This...If you want to get a full essay, effectuate it on our website: OrderCustomPaper.com

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