American Bankers Association CRCM Exam - Topic 7 Question 64 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 64
Topic #: 7

Requirements---12 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information about an application's race, color, religion, national origin, or gender except as specifically permitted by ____________or another statute such as the Home Mortgage Disclosure Act.

ARegulation B

BRegulation U

CRegulation Z

DRegulation A

Show Suggested Answer

Suggested Answer: B

by Lashon at Jan 10, 2023, 07:33 AM

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Marsha

8 months ago

I had no idea about this! Regulation B? Interesting!

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Lazaro

8 months ago

Wait, are we sure it's not Regulation U? Seems off.

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Nicolette

9 months ago

I thought it was Regulation Z at first, but B makes sense.

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Pete

9 months ago

Totally agree, Regulation B is the right answer!

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France

9 months ago

It's Regulation B that covers this.

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Michael

9 months ago

I definitely remember that Regulation B is related to this topic. It’s the one that restricts asking about race and gender, right?

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Lashawna

9 months ago

Regulation U sounds familiar, but I can't quite place it in this context. I feel like I might be mixing it up with something else.

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Youlanda

9 months ago

I recall studying about the different regulations, and I think Regulation B is the one that deals with discrimination in lending.

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Lenna

9 months ago

I think the answer might be Regulation B, but I'm not completely sure. I remember it has to do with equal credit opportunity.

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Kathrine

9 months ago

Opportunity cost is the key concept here. I'll make sure I understand that well for the exam.

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Kirk

9 months ago

I'm leaning towards option B, the project plan. That seems like the foundational document the project manager should provide to set the team up for success.

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Tien

10 months ago

Okay, I think I have a strategy here. I'll look into using the tf.data.Dataset.prefetch transformation to load the data efficiently.

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Avery

1 year ago

Regulation B, no doubt. Can't have the bank prying into our religious affiliations or favorite color. That's just common sense.

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Dulce

1 year ago

That's right, Regulation B is the correct answer to this question.

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Fausto

1 year ago

A) Regulation B

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Terrilyn

1 year ago

No, Regulation Z deals with Truth in Lending disclosures, not the prohibition of requesting personal information like race or religion.

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Maybelle

1 year ago

C) Regulation Z

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Ashley

1 year ago

Exactly, Regulation B prohibits creditors from requesting certain personal information during the application process.

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Yolande

1 year ago

A) Regulation B

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Quentin

1 year ago

Wait, is this a trick question? I bet the answer is Regulation B, because who wants the government knowing all our personal details, am I right?

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Dierdre

1 year ago

Yes, Regulation B is the correct answer in this case.

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Lashawn

1 year ago

A) Regulation B

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Glory

1 year ago

Actually, Regulation Z deals with truth in lending disclosures, not the collection of personal information.

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Mari

1 year ago

C) Regulation Z

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Germaine

1 year ago

That's correct! Regulation B specifically permits creditors to collect certain information for monitoring purposes.

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Izetta

1 year ago

A) Regulation B

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Carylon

1 year ago

Hmm, let me think... Ah, got it! Regulation B is the one that governs this kind of information disclosure. Nailed it!

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Rutha

1 year ago

Actually, it's Regulation B that specifically permits the collection of certain applicant information.

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Sherrell

1 year ago

C) Regulation Z

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Gail

1 year ago

That's correct! Regulation B is the one that governs this type of information disclosure.

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Maryann

1 year ago

A) Regulation B

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Felix

1 year ago

Ugh, I always get these fair lending regulations mixed up. But Regulation B is the clear winner here - can't go wrong with the big B!

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Tom

1 year ago

I love these tricky regulatory questions. Gotta stay on top of those CFR sections, am I right? Regulation B is the one that's got our backs on this one.

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Ria

1 year ago

C) Regulation Z

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Anastacia

1 year ago

That's right! Regulation B is the one that allows creditors to request certain information about an applicant's race, color, religion, national origin, or gender.

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Jolene

1 year ago

A) Regulation B

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Carlee

1 year ago

Ah, the delicate balance of privacy and transparency in lending practices. Regulation B is definitely the answer here - it's the one that sets the rules for fair lending.

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Kimbery

1 year ago

I agree with Matthew, Regulation B prohibits creditors from discriminating against applicants based on race, color, religion, national origin, or gender.

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Matthew

1 year ago

I think it's A) Regulation B because Regulation B deals with equal credit opportunity.

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Tomoko

1 year ago

A) Regulation B

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