Which act aims to educate consumers on protecting themselves from unfair practices?

Prepare for the Edmentum Personal Finance Exam with flashcards and multiple-choice questions. Gain insights with explanations and hints for each question. Get ready for your test!

The Dodd-Frank Act, enacted in 2010, primarily focuses on financial regulation reform in the wake of the 2008 financial crisis. One of its key components is the establishment of the Consumer Financial Protection Bureau (CFPB), which works to educate consumers about their rights and how to avoid unfair financial practices, thus enhancing consumer protection in financial products and services.

While the other acts mentioned address specific aspects of consumer protection or advertising, the Dodd-Frank Act stands out for its comprehensive approach to financial consumer protection, including education initiatives. This makes it a crucial piece of legislation aimed at empowering consumers against unfair practices in the financial sector.

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