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9 September, 23:53

The Consumer Financial Protection Bureau (CFPB) was created to represent consumers by filing suit in federal court asking for damages on behalf of the injured consumer.

A. True.

B. False.

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Answers (1)
  1. 10 September, 01:43
    0
    Answer: False

    Explanation:

    The Consumer Financial Protection Bureau (CFPB) is a United States government agency responsible that is responsible for the protection of consumers in the financial sector such as credit unions, banks, securities firms, mortgage-servicing operations, debt collectors and other financial companies that are operating in the United States. The CFPB is in charge of supervision, rule making and hindering deceptive, unfair or abusive practices.

    Although the original focus of the Federal Trade Commission (FTC) was on antitrust law, the commission now regulates different range of activities that affect consumers. The Federal Trade Commission can enforce a fine or file a suit in federal court requesting for damages on behalf of a consumer who is injured.

    The role mentioned in the question is the role of Federal Trade Commission and not Consumer Financial Protection Bureau.
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Home » Business » The Consumer Financial Protection Bureau (CFPB) was created to represent consumers by filing suit in federal court asking for damages on behalf of the injured consumer. A. True. B. False.
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