Certified Regulatory Compliance Manager CRCM (CRCM) - American College Exam Questions

Any of the following foreign correspondents for which the Federal Reserve maintains an account

EXCEPT:

Which of the following is true of a bank’s CRA strategic plan?

First National is developing a consumer checking account that can access a line of credit. This is the first time the bank has ever had such a product, although this type of credit facility has been popular with other banks in town. To determine what interest rate to charge on this account, an officer of First National called some of his friends at other local banks offering this type of credit and asked several questions, including the interest rate charged on this type of account and what internal factors the banks use to set the rate. After obtaining this information, First National determines that it could charge approximately 2 percent more than it originally planneD. Is there anything wrong with this course of action?

First National Bank owns a data processing company that sells financially related data processing services to various businesses in the community. Daniel Tyler, a loan officer, is negotiating a loan to a local CPA firm. He would like to make the loan conditional on the CPA firm’s use of the subsidiary data processing firm.May he do so?

A bank may engage in voluntary self-testing and self-correction of its compliance with Regulation B . If the bank takes any appropriate corrective action, the reports, results, analysis, opinions, and conclusions of the self-test will be protected by a privilege. The privilege will be lost if