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Read this FTC article about the Dodd-Frank Act, and in the space below, write a paragraph (4-5 sentences) explaining how the provisions of Title X and Title XIV of this Act protect consumers.

Title X:

Title XIV:

(Type your response in the box below.)



Answer :

GinnyAnswer

Final answer:

Title X establishes the CFPB to regulate financial institutions for consumer protection, while Title XIV regulates mortgage practices to prevent risky lending and ensure borrower's ability to repay.


Explanation:

Title X: Title X of the Dodd-Frank Act focuses on protecting consumers by establishing the Consumer Financial Protection Bureau (CFPB). This bureau monitors and regulates financial institutions, ensuring fair practices in consumer financial markets.

Title XIV: Title XIV of the Dodd-Frank Act aims to protect consumers by regulating mortgage practices. It includes provisions such as ability-to-repay rules and prohibitions on risky lending practices to prevent another housing crisis.


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