Uniform State Content (SAFE Act)Question 389 of 400
Which federal agency was given rulemaking authority over the SAFE Act after passage of the Dodd-Frank Act?
a.The Consumer Financial Protection Bureau (CFPB)
b.The Internal Revenue Service (IRS)
c.The Federal Trade Commission (FTC)
d.The Securities and Exchange Commission (SEC)
Explanation
Rulemaking authority for the SAFE Act transferred to the Consumer Financial Protection Bureau (CFPB) under the Dodd-Frank Act. The CFPB's Regulation H and Regulation G implement the SAFE Act's licensing and registration requirements for state-licensed and federally registered MLOs, respectively.
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