APFIVE In what ways did the creation of the Consumer Financial Protection Bureau (CFPB) in 2011 reflect a shift in government approach to consumer protection, and how did it relate to the economic events of the previous decade?
It consolidated consumer protection responsibilities from multiple agencies and increased regulatory oversight of financial institutions in response to the 2008 financial crisis
It transferred consumer protection duties from the government to private sector organizations to improve efficiency
It deregulated the financial industry to stimulate economic growth following the recession of the early 2000s
It established a new system of self-regulation for banks and credit card companies in light of their successful handling of the subprime mortgage crisis
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