QUESTION: 86

A consumer reporting agency may furnish a consumer report

If not authorized in writing by the consumer
In response to a court order having jurisdiction or a subpoena issued by a federal grand jury or review or collection of an account of the consumer
In connection with a credit or insurance transaction
For employment purposes
Before procuring a consumer report, an employer
Must disclose to the individual in writing that a consumer report may be obtained Must obtain written authorization from the individual before procuring the report

Answer(s): B,C,D

Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to change the way it documents, discloses, and advertises real estate loans, an integral product line at your bank. What should the compliance professional do FIRST to implement the new law within the bank?

Read the law and write a new real estate compliance policy
Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan
Talk to the bank president about the need for more resources in compliance
Sign up all bank personnel affected by the changes for a seminar on the new law

Answer(s): B

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QUESTION: 87

Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to change the way it documents, discloses, and advertises real estate loans, an integral product line at your bank. What should the compliance professional do FIRST to implement the new law within the bank?

Read the law and write a new real estate compliance policy
Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan
Talk to the bank president about the need for more resources in compliance
Sign up all bank personnel affected by the changes for a seminar on the new law

Answer(s): B

Reveal Solution Next Question

QUESTION: 87

Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to change the way it documents, discloses, and advertises real estate loans, an integral product line at your bank. What should the compliance professional do FIRST to implement the new law within the bank?

Read the law and write a new real estate compliance policy
Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan
Talk to the bank president about the need for more resources in compliance
Sign up all bank personnel affected by the changes for a seminar on the new law

Answer(s): B

Reveal Solution Next Question

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QUESTION: 86

QUESTION: 87

QUESTION: 87

QUESTION: 87

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