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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 37 )

Updated On: 11-Jan-2026
Page 37 of 276
PDF with 463 Questions

A bank is planning to sell eight branches. The compliance officer participates on a bank committee to oversee the process. What should be the compliance officer's PRIMARY concern?

  1. That the bank's revenues will not be affected severely
  2. That the branches are closed in accordance with bank policy
  3. That customers of the branches will continue to have access to banking services
  4. That the bank's confidential information is returned to the main office

Answer(s): B



Which of the following must be included in a branch closing notice to a bank's regulatory agency?

  1. Comments from customers who oppose the closing
  2. Detailed statement of the reasons for the closing
  3. Copy of the notice to be sent to affected customers
  4. Copy of board minutes reflecting the decision to close

Answer(s): B



A bank has a stand-alone ATM in a high crime are A. Due to concerns for the safety of individuals using the ATM, management decides to close it. According to branch closing policy statements issued by federal regulators, which of the following actions should the bank take?

  1. No action is required because an ATM is not, by definition, a branch.
  2. Post a notice at the ATM at least 30 days before the intended closing date.
  3. Notify the bank's federal regulatory agency at least 90 days before the intended closing date.
  4. Mail a notice to all customers at least 90 days before the intended closing date.

Answer(s): A



In which of the following cases is a branch closing notice required?

  1. Bank A decides to stop cashing checks for noncustomers at its neighborhood branch.
  2. Bank B and Bank C merge. Each has a branch in the near-town neighborhood. The merged organization is closing the branch that was formerly Bank B and merging it into the branch that was formerly Bank C.
  3. Bank D is closing its drive-through facilities in its near-town neighborhood branch, although its regular facility is remaining.
  4. Bank E is closing its near-town facility because of its outmoded building and equipment. Bank E has commissioned a study from a local development center to determine if it is feasible to re-open its branch in the future.

Answer(s): D



Big Nationwide Bank has decided to close one of its smaller branches in Texas. A community association from the small town where the branch is located is not pleased with the decision because Big Nationwide's branch is the only financial institution in the small town. The community group complains to the federal agency that regulates Big Nationwide. What must Big Nationwide do in light of this protest against its decision to close the branch?

  1. Re-post the notice and wait an additional 90 days
  2. Send the federal agency a detailed statistical analysis that is consistent with its branch closing policy and that proves why closing the branch is economically necessary
  3. Meet with the community group, explain their reasoning, and help the group find some alternative financial services
  4. Nothing is required

Answer(s): D



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