Which regulation prohibits banks from engaging in unfair, deceptive, or abusive acts or practices?

The Dodd-Frank Act is the regulation that specifically prohibits banks from engaging in unfair, deceptive, or abusive acts or practices. This act was enacted in response to the financial crisis of 2008 and aimed to increase financial system transparency and protect consumers from exploitative practices.

One of the key components of the Dodd-Frank Act is the establishment of the Consumer Financial Protection Bureau (CFPB), which is tasked with overseeing and enforcing compliance with consumer protection laws. The CFPB's authority includes addressing practices that are deemed unfair, deceptive, or abusive, thereby ensuring a more equitable and transparent financial marketplace.

Other regulations mentioned do not focus specifically on prohibiting unfair or deceptive practices in the same manner. The Bank Secrecy Act primarily deals with anti-money laundering and reporting requirements, while the Gramm-Leach-Bliley Act focuses on the sharing of consumer financial information and privacy protections. The Consumer Financial Protection Act, while related, is actually part of the broader Dodd-Frank Act and does not independently enforce these prohibitions. Thus, the Dodd-Frank Act directly addresses the concern regarding unfair, deceptive, or abusive acts and practices in the banking industry.