QUESTION: 82

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

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

Loan and application files or other records related to a credit transaction and information derived from such files and records, even if it has been reorganized and summarized for analysis
The information is voluntarily disclosed to the government
The public or is used in any manner as a defense to a discrimination charge
credit information is furnished in response to inquiries concerning an account reflecting the participation of consumer

Answer(s): B,C

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QUESTION: 83

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

Loan and application files or other records related to a credit transaction and information derived from such files and records, even if it has been reorganized and summarized for analysis
The information is voluntarily disclosed to the government
The public or is used in any manner as a defense to a discrimination charge
credit information is furnished in response to inquiries concerning an account reflecting the participation of consumer

Answer(s): B,C

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QUESTION: 83

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

Loan and application files or other records related to a credit transaction and information derived from such files and records, even if it has been reorganized and summarized for analysis
The information is voluntarily disclosed to the government
The public or is used in any manner as a defense to a discrimination charge
credit information is furnished in response to inquiries concerning an account reflecting the participation of consumer

Answer(s): B,C

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QUESTION: 82

QUESTION: 83

QUESTION: 83

QUESTION: 83

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