21:12
Yeah, that's fair! For some people it can help a lot. I'm just saying in general I don't think it is necessary unless you are trying to finetune a very specific area (or get to the high 170s because that is another thing in and of itself) OR are just terrible at the test. I tutor the test and I find that most people can improve just as much through self-study.
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Simple English definitions for legal terms
Dodd-Frank: Title X - Bureau of Consumer Financial Protection
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A quick definition of Dodd-Frank: Title X - Bureau of Consumer Financial Protection:
Dodd-Frank is a law that created a group called the Consumer Financial Protection Bureau (CFPB). The CFPB makes sure that companies that offer financial products and services to people follow the rules and treat people fairly. The CFPB has the power to make rules, investigate companies, and take them to court if they break the rules. States can also make their own rules to protect people, as long as they don't conflict with the federal rules. The CFPB took over some jobs from other government groups to make sure people are protected.A more thorough explanation:
Definition: Title X of the Dodd-Frank Act created the Consumer Financial Protection Bureau (CFPB) as an independent agency within the Federal Reserve. The CFPB regulates the offering and provision of consumer financial products and services under federal consumer financial laws.
Purpose: The CFPB ensures that federal consumer financial laws are enforced consistently so that consumers can access markets for financial products that are fair, transparent, and competitive.
Provisions: The Bureau is headed by a Director who establishes four offices: The Office of Fair Lending and Equal Opportunity, The Office of Financial Education, The Office of Servicemember Affairs, and The Office of Financial Protection for Older Americans. The Bureau has the authority to administer, enforce, and implement federal consumer financial laws, including the power to make rules, issue orders, and issue guidance. The Bureau engages in investigations, requests information from covered persons, issues subpoenas or civil investigative demands, conducts hearings and adjudication proceedings, and commences civil actions in federal court seeking any appropriate or equitable relief against any person that violates a federal consumer financial law.
Examples: The CFPB has the authority to investigate and take action against financial institutions that engage in unfair, deceptive, or abusive practices. For example, the CFPB fined Wells Fargo $100 million for opening unauthorized accounts and charging customers for services they did not request. The CFPB also has the authority to regulate payday lenders, debt collectors, and credit reporting agencies to ensure that they comply with federal consumer financial laws.
Explanation: The examples illustrate how the CFPB enforces federal consumer financial laws to protect consumers from unfair, deceptive, or abusive practices by financial institutions. The CFPB's authority to regulate payday lenders, debt collectors, and credit reporting agencies ensures that these industries operate fairly and transparently. The CFPB's enforcement actions against Wells Fargo demonstrate the Bureau's commitment to holding financial institutions accountable for their actions.
Dodd-Frank: Title VIII - Payment, Clearing, and Settlement Supervision | Dodd-Frank: Title XI - Federal Reserve System Provisions