Compliance Oversight Agencies Flashcards

Which agency has primary authority to enforce the Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules?

Answer: HHS Office for Civil Rights

The HHS Office for Civil Rights (OCR) enforces HIPAA's Privacy Rule, Security Rule, and Breach Notification Rule.

The Federal Trade Commission's enforcement authority over data privacy primarily relies on which statute?

Answer: Section 5 of the FTC Act prohibiting unfair or deceptive practices

The FTC uses Section 5 of the FTC Act, which prohibits unfair or deceptive acts, as its primary tool for enforcing data privacy obligations.

Which agency oversees compliance with the Americans with Disabilities Act (ADA) Title I employment provisions?

Answer: EEOC

The Equal Employment Opportunity Commission (EEOC) enforces ADA Title I, which prohibits disability discrimination in employment.

A financial institution receives a civil investigative demand (CID) related to mortgage servicing practices. Which agency most likely issued it?

Answer: CFPB

The CFPB uses civil investigative demands as an enforcement tool for investigations involving consumer financial products like mortgage servicing.

Which agency must approve mergers between national banks under the Bank Merger Act?

Answer: OCC

Under the Bank Merger Act, mergers where the resulting bank is a national bank require OCC approval as the primary federal regulator.

Environmental compliance with the Clean Air Act is enforced at the federal level by which agency?

Answer: EPA

The Environmental Protection Agency (EPA) enforces the Clean Air Act, setting and enforcing national air quality standards.

Which self-regulatory organization (SRO) oversees compliance for municipal securities dealers?

Answer: MSRB

The Municipal Securities Rulemaking Board (MSRB) establishes rules for municipal securities dealers and advisors, though the SEC and FINRA enforce them.