CCT Compliance Oversight Agencies 4 — Questions and Answers
Question 1: Which agency has primary authority to enforce the Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules?
- FTC
- CMS
- HHS Office for Civil Rights (Correct answer)
- FDA
Correct answer: HHS Office for Civil Rights
The HHS Office for Civil Rights (OCR) enforces HIPAA's Privacy Rule, Security Rule, and Breach Notification Rule.
Question 2: The Federal Trade Commission's enforcement authority over data privacy primarily relies on which statute?
- GDPR
- Section 5 of the FTC Act prohibiting unfair or deceptive practices (Correct answer)
- GLBA
- FERPA
Correct 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.
Question 3: Which agency oversees compliance with the Americans with Disabilities Act (ADA) Title I employment provisions?
- Department of Labor
- Department of Justice
- EEOC (Correct answer)
- HHS
Correct answer: EEOC
The Equal Employment Opportunity Commission (EEOC) enforces ADA Title I, which prohibits disability discrimination in employment.
Question 4: A financial institution receives a civil investigative demand (CID) related to mortgage servicing practices. Which agency most likely issued it?
- OCC
- FDIC
- CFPB (Correct answer)
- Federal Reserve
Correct answer: CFPB
The CFPB uses civil investigative demands as an enforcement tool for investigations involving consumer financial products like mortgage servicing.
Question 5: Which agency must approve mergers between national banks under the Bank Merger Act?
- Federal Reserve
- FDIC
- OCC (Correct answer)
- DOJ Antitrust Division
Correct answer: OCC
Under the Bank Merger Act, mergers where the resulting bank is a national bank require OCC approval as the primary federal regulator.
Question 6: Environmental compliance with the Clean Air Act is enforced at the federal level by which agency?
- Department of Energy
- EPA (Correct answer)
- OSHA
- Department of the Interior
Correct answer: EPA
The Environmental Protection Agency (EPA) enforces the Clean Air Act, setting and enforcing national air quality standards.
Question 7: Which self-regulatory organization (SRO) oversees compliance for municipal securities dealers?
- FINRA
- MSRB (Correct answer)
- SIPC
- CFTC
Correct answer: MSRB
The Municipal Securities Rulemaking Board (MSRB) establishes rules for municipal securities dealers and advisors, though the SEC and FINRA enforce them.
CCT Compliance Oversight Agencies 4
Which agency has primary authority to enforce the Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules?