FDIC guidance lists three requirements to ensure compliance with spousal signature rules include all of the following EXCEPT:

Review and revise policies
Eliminate policies or procedures that are inconsistent with the requirements Expand loan policies and procedures to provide loan staff with specific guidance on state law(s) regarding requiring signatures
Cover the laws of all states where the creditor institution does business Create checklists to address situations when spousal signatures can be required
Provide training to consumer and commercial loan staff
Implement monitoring and auditing programs to check for spousal signature violations
Must allow an applicant to designate a birth-given first name and a birth-given, surname, spouse's surname, or combination

Answer(s): D

FDIC guidance lists three requirements to ensure compliance with spousal signature rules include all of the following EXCEPT:

Review and revise policies
Eliminate policies or procedures that are inconsistent with the requirements Expand loan policies and procedures to provide loan staff with specific guidance on state law(s) regarding requiring signatures
Cover the laws of all states where the creditor institution does business Create checklists to address situations when spousal signatures can be required
Provide training to consumer and commercial loan staff
Implement monitoring and auditing programs to check for spousal signature violations
Must allow an applicant to designate a birth-given first name and a birth-given, surname, spouse's surname, or combination

Answer(s): D

Content of notification to credit consumers must contain:

Statement of the action taken
Name and address of creditor
Statement of the specific reasons for the adverse action or a disclosure of the applicant's right to receive the specific reasons within 30 days of a request. The request for specific reasons must be made within 60 days of the receipt of the adverse action notice.
Statement of the specific reasons for the adverse action or a disclosure of the applicant's right to receive the specific reasons within 15 days of a request. The request for specific reasons must be made within 30 days of the receipt of the adverse action notice.

Answer(s): A,B,C

Content of notification to credit consumers must contain:

Statement of the action taken
Name and address of creditor
Statement of the specific reasons for the adverse action or a disclosure of the applicant's right to receive the specific reasons within 30 days of a request. The request for specific reasons must be made within 60 days of the receipt of the adverse action notice.
Statement of the specific reasons for the adverse action or a disclosure of the applicant's right to receive the specific reasons within 15 days of a request. The request for specific reasons must be made within 30 days of the receipt of the adverse action notice.

Answer(s): A,B,C

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