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Consumer Financial Protection Act (CFPA) 2000

Consumer Financial Protection Act (CFPA) 2000

The Consumer Financial Protection Act of 2010 is an amendment to the National Bank Act designed to identify and explain the standards that apply to national banks. The Consumer Financial Protection Act aims to increase oversight and clarify the consumer finance laws governing financial transactions to protect consumers in these transactions.

The act, known as the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, resulted in the creation of the Consumer Financial Protection Bureau (CFPB) to centralize the regulation of various financial products and services.1

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