Which federal act established the Consumer Financial Protection Bureau (CFPB)?

The Dodd-Frank Act is the federal legislation that established the Consumer Financial Protection Bureau (CFPB). Enacted in response to the 2008 financial crisis, the Dodd-Frank Act aimed to promote financial stability and accountability in the financial services industry. One of its key provisions was the creation of the CFPB to oversee and enforce consumer protection laws, ensuring that consumers are treated fairly by financial institutions. The CFPB's role includes regulating practices related to mortgages, credit cards, and other financial products, ultimately aiming to safeguard consumers from abusive practices.

The other acts mentioned, such as the Fair Housing Act, Truth in Lending Act, and Home Mortgage Disclosure Act, focus on specific aspects of housing and lending but do not establish the CFPB. For instance, the Fair Housing Act primarily addresses discrimination in housing. The Truth in Lending Act requires clear disclosure of loan terms to consumers, while the Home Mortgage Disclosure Act aims to provide the public with access to information about mortgage lending. Although these laws contribute to consumer protection, they do not create the CFPB or encompass its broader regulatory authority established by the Dodd-Frank Act.