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Free CRCM Exam Braindumps (page: 22)

Page 22 of 344
PDF with 463 Questions

Safety and soundness concerns in FDIC Payday Lending Guidance clearly mention that there should be adequate capital as Minimum capital requirements are not enough to offset the risks of payday loans. Banks should hold capital against its subprime portfolio in amounts:

  1. That are 1½ to 5 times greater than normal
  2. That are 1½ to 3 times greater than normal
  3. That are 1½ to 3 times lower than normal
  4. That should be between 2-5 in comparison to normal

Answer(s): B



Safety and soundness concerns in FDIC Payday Lending Guidance clearly mention that there should be adequate capital as Minimum capital requirements are not enough to offset the risks of payday loans. Banks should hold capital against its subprime portfolio in amounts:

  1. That are 1½ to 5 times greater than normal
  2. That are 1½ to 3 times greater than normal
  3. That are 1½ to 3 times lower than normal
  4. That should be between 2-5 in comparison to normal

Answer(s): B



Compliance issues related to payday lending are all of the following EXCEPT:

  1. Payday lending may adversely affect a bank's CRA rating. Any illegal or questionable practices will negatively affect a bank's CRA performance. A payday lending program may be inconsistent with helping to meet the community's credit needs
  2. The bank (or its third-party partner) must properly disclose all finance charges and fees to payday lending customers. Advertisements of the program are also subject to Truth-in-Lending requirements
  3. Adverse action disclosures must be provided to applicants of payday loans that are denied if a consumer report (including check tracking services) was used in the credit decision
  4. The bank may be subject to the FOC's unfair or deceptive practices rules.

Answer(s): D



Compliance issues related to payday lending are all of the following EXCEPT:

  1. Payday lending may adversely affect a bank's CRA rating. Any illegal or questionable practices will negatively affect a bank's CRA performance. A payday lending program may be inconsistent with helping to meet the community's credit needs
  2. The bank (or its third-party partner) must properly disclose all finance charges and fees to payday lending customers. Advertisements of the program are also subject to Truth-in-Lending requirements
  3. Adverse action disclosures must be provided to applicants of payday loans that are denied if a consumer report (including check tracking services) was used in the credit decision
  4. The bank may be subject to the FOC's unfair or deceptive practices rules.

Answer(s): D



Page 22 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
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Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
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Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
upvote

Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
upvote