From the course: CIPP/US Cert Prep: 2 Private Sector Privacy
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Dodd-Frank Act
From the course: CIPP/US Cert Prep: 2 Private Sector Privacy
Dodd-Frank Act
- [Narrator] The next major legislative change affecting financial privacy was the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2008, or more simply, the Dodd-Frank Act. This act reorganized the regulation of financial institutions and established several new federal agencies. From a privacy perspective, the most significant action taken by Dodd-Frank was the establishment of the Consumer Financial Protection Bureau, or CFPB. The CFPB took over rulemaking authority for the Fair Credit Reporting Act, and the Gramm-Leach-Bliley Act. The Dodd-Frank Act also gave the CFPB authority to take enforcement actions against unfair and deceptive practices by providers of consumer financial products and services, similar to the authority granted to the Federal Trade Commission over other areas. In fact, Dodd-Frank introduced an expanded term called UDAAPs. That's an acronym that stands for unfair, deceptive, or…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.