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American Bankers Association Exam CRCM Topic 5 Question 87 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 87
Topic #: 5

[All CRCM Questions]

Payroll card accounts established directly or indirectly by an employer for the purpose of electronically transferring an employee's wages, salary, or other compensation on a recurring basis, are covered by:

ARegulation E

BRegulation T

CRegulation CC

DRegulation Z

Show Suggested Answer

Suggested Answer: D

by Nathalie at May 11, 2024, 07:32 PM

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Ines

21 days ago

Regulation CC? That's for check clearing, isn't it? I'm pretty confident Regulation E is the right choice here. Can't wait to see what the instructor says about this one!

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Florinda

3 days ago

I think you're right, Regulation E covers electronic transfers like payroll cards.

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Carey

27 days ago

Haha, Regulation T? That's for margin accounts, not payroll cards! This is definitely an electronic transfer thing, so Regulation E is the way to go.

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Amira

15 days ago

I agree, Regulation E is definitely the right choice for payroll card accounts.

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Nobuko

1 months ago

Hmm, I'm not sure. Could it be Regulation Z since it deals with consumer credit? I'll have to double-check that one.

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Barney

1 days ago

I believe it is Regulation E, as it specifically covers payroll card accounts.

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Kanisha

2 days ago

I'm not sure about that, but I think Regulation CC also deals with electronic transfers.

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Dorcas

9 days ago

I think it might actually be Regulation E, which covers electronic transfers of funds.

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Wade

2 months ago

I think Regulation E is the correct answer here. Payroll cards are a form of electronic fund transfer, so they would fall under that regulation.

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Osvaldo

1 months ago

Yes, Regulation E is the correct answer for payroll card accounts.

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Pansy

1 months ago

I agree, Regulation E covers electronic fund transfers.

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Sheridan

2 months ago

I'm not sure, but I think it makes sense that payroll card accounts would fall under Regulation E.

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Arlyne

2 months ago

I agree with Kaycee, because Regulation E covers electronic transfers of wages.

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Kaycee

2 months ago

I think the answer is A) Regulation E.

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