What agency was established under Title X of the Dodd-Frank Act?

The Consumer Financial Protection Bureau (CFPB) was established under Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The purpose of creating the CFPB was to enhance consumer protection in the financial sector. This agency was designed to oversee and enforce federal consumer financial laws in order to ensure that consumers are treated fairly by financial institutions. The CFPB has the authority to regulate various financial products and services, including mortgages, credit cards, and student loans, and it works to empower consumers with information and resources to make informed financial decisions.

The other agencies listed, such as the Federal Reserve Board and the Securities and Exchange Commission, were not created by the Dodd-Frank Act. The Federal Reserve had existed long before the Dodd-Frank Act and continues to play a significant role in monetary policy. The Securities and Exchange Commission oversees the securities markets and protects investors, but it too was established prior to the Dodd-Frank Act. The Department of Commerce is a cabinet-level department that focuses broadly on economic growth and job creation, but it is not linked specifically to consumer financial protection. Therefore, the establishment of the CFPB under the Dodd-Frank Act represents a targeted effort to enhance consumer protections in response to the financial crisis of