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Chapter 1: 16DQ (page 23)

Name the departments, offices, or agencies that were created by the Dodd-Frank legislation.

Short Answer

Expert verified

The Dodd-Frank act formed CFPB, OFR, FIO, and FSOC.

Step by step solution

01

Dodd-Frank act

The Dodd-Frank act was established to increase stability of the US’s financial system. This act helped in improving accountability and transparency in the financial system.

02

The agencies formed in the Dodd-Frank act

The Dodd-Frank act formed four agencies:

  1. Consumer Protection Financial Bureau (CFPB)
  2. Office of Financial Research (OFR)
  3. Federal Insurance Office (FIO)
  4. Financial Stability Oversight Council (FSOC)

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