CFPB/DFA (Dodd Frank Act) Compliance
What is CFPB/DFA (Dodd Frank Act) Compliance?
The Consumer Financial Protection Bureau (CFPB) has oversight over lending regulations with a view to prevent overly risky lending practices. The Dodd Frank Act (DFA) was established in response to the financial crisis of 2008 to govern specific lending and trading practices of major financial firms. Components of the Dodd Frank Act address loans, derivatives, whistle blowing practices, regulatory reserve requirements, bonds and speculative trading.