Certified Information Privacy Professional – United States (CIPP/US) — Question 41

Who has rulemaking authority for the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transactions Act (FACTA)?

Answer options

• A. State Attorneys General
• B. The Federal Trade Commission
• C. The Department of Commerce
• D. The Consumer Financial Protection Bureau

Correct answer: D

Explanation

The Consumer Financial Protection Bureau (CFPB) is the correct answer as it has the authority to implement regulations regarding the FCRA and FACTA. The other options, while related to consumer protection and financial oversight, do not have the specific rulemaking power granted to the CFPB for these acts.