The primary goal of the consumer financial protection bureau is: a) To monitor your credit report and ensure your identity and other sensitive data has not been compromised b) To protect against abusive or deceptive debt collection purposes c) To protect consumers by regulating financial products and services d) To protect consumers against false advertising and other unfair business practices
The correct answer to this question is B. The primary goal of the consumer financial protection bureau is to protect consumers against abusive or deceptive debt collection purposes.
Explanation:
This means that the CFPB has jurisdiction over various financial companies, such as banks, credit unions, and debt collectors.
Financial regulations prevent banks and related institutions from deceiving or threatening consumers in order to collect a debt. The purpose of the CFPB is to ensure that debt collection is to monitor compliance of these financial institutions with the law with regards to collecting debts.
Citizens who believe that they fell victims to deceptive or illegal practices of financial institutions can report to the CFPB at https://www.consumerfinance.gov/complaint/. Complaints can be submitted in a variety of languages, including Spanish, Vietnamese, Korean, and Chinese.
Work Cited
Lorry, Alicia. "The primary goal of the consumer financial protection bureau is: a) To monitor your credit report and ensure your identity and other sensitive data has not been compromised b) To protect against abusive or deceptive debt collection purposes c) To protect consumers by regulating financial products and services d) To protect consumers against false advertising and other unfair business practices." Custom-Writing, 2 Apr. 2020, custom-writing.org/qna/the-primary-goal-of-the-consumer-financial-protection-bureau/.
1. Alicia Lorry. "The primary goal of the consumer financial protection bureau is: a) To monitor your credit report and ensure your identity and other sensitive data has not been compromised b) To protect against abusive or deceptive debt collection purposes c) To protect consumers by regulating financial products and services d) To protect consumers against false advertising and other unfair business practices." Custom-Writing (blog), April 2, 2020. https://custom-writing.org/qna/the-primary-goal-of-the-consumer-financial-protection-bureau/.
Bibliography
Lorry, Alicia. "The primary goal of the consumer financial protection bureau is: a) To monitor your credit report and ensure your identity and other sensitive data has not been compromised b) To protect against abusive or deceptive debt collection purposes c) To protect consumers by regulating financial products and services d) To protect consumers against false advertising and other unfair business practices." Custom-Writing (blog), April 2, 2020. https://custom-writing.org/qna/the-primary-goal-of-the-consumer-financial-protection-bureau/.
References
Lorry, Alicia. 2020. "The primary goal of the consumer financial protection bureau is: a) To monitor your credit report and ensure your identity and other sensitive data has not been compromised b) To protect against abusive or deceptive debt collection purposes c) To protect consumers by regulating financial products and services d) To protect consumers against false advertising and other unfair business practices." Custom-Writing (blog), April 2, 2020. https://custom-writing.org/qna/the-primary-goal-of-the-consumer-financial-protection-bureau/.
Reference
Lorry, A. (2020, April 2). The primary goal of the consumer financial protection bureau is: a) To monitor your credit report and ensure your identity and other sensitive data has not been compromised b) To protect against abusive or deceptive debt collection purposes c) To protect consumers by regulating financial products and services d) To protect consumers against false advertising and other unfair business practices [Blog post]. Retrieved from https://custom-writing.org/qna/the-primary-goal-of-the-consumer-financial-protection-bureau/
References
Lorry, A. (2020) 'The primary goal of the consumer financial protection bureau is: a) To monitor your credit report and ensure your identity and other sensitive data has not been compromised b) To protect against abusive or deceptive debt collection purposes c) To protect consumers by regulating financial products and services d) To protect consumers against false advertising and other unfair business practices'. Custom-Writing, 2 April.