Which act was primarily designed to protect consumers in the financial sector?

The Dodd-Frank Act was primarily designed to enhance consumer protections in the financial sector in response to the 2008 financial crisis. One of its key objectives was to promote financial stability and prevent practices that could harm consumers, particularly in areas related to mortgage lending and banking services.

This act established several important regulations aimed at protecting consumers, such as creating the Consumer Financial Protection Bureau (CFPB), which monitors and enforces consumer financial laws. It also implements rules to ensure transparency in the financial services industry and address abusive practices that can lead to consumer exploitation.

In contrast, the Sarbanes-Oxley Act primarily focuses on corporate governance and accountability for publicly traded companies rather than consumer protections. The Federal Sentencing Guidelines are meant to standardize sentencing in federal criminal cases, and the Corporate Governance Act, as a general term, refers to laws governing corporate management which do not specifically address consumer protections in the financial industry.