QUESTION: 5

In a compliance program, tactical compliance procedures should be integrated into business line procedures, such as how to deliver an Adverse Action Notice when an application is declined. In this case:

Regulations should be applied consistently to procedures throughout the bank
Revisions to procedures should be based on compliance expertise and not mere editing
Providing solutions to mitigate any identified risk
Assisting business units in developing or revising policies and procedures to reflect current regulatory requirements

Answer(s): A,B

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QUESTION: 5

In a compliance program, tactical compliance procedures should be integrated into business line procedures, such as how to deliver an Adverse Action Notice when an application is declined. In this case:

Regulations should be applied consistently to procedures throughout the bank
Revisions to procedures should be based on compliance expertise and not mere editing
Providing solutions to mitigate any identified risk
Assisting business units in developing or revising policies and procedures to reflect current regulatory requirements

Answer(s): A,B

Reveal Solution Next Question

QUESTION: 5

In a compliance program, tactical compliance procedures should be integrated into business line procedures, such as how to deliver an Adverse Action Notice when an application is declined. In this case:

Regulations should be applied consistently to procedures throughout the bank
Revisions to procedures should be based on compliance expertise and not mere editing
Providing solutions to mitigate any identified risk
Assisting business units in developing or revising policies and procedures to reflect current regulatory requirements

Answer(s): A,B

Reveal Solution Next Question