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American Bankers Association Exam CRCM Topic 8 Question 67 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 67
Topic #: 8
[All CRCM Questions]

ABC Bank has an interactive Internet Web site at which it takes consumer credit applications. At the time an applicant completes an application on the Web site and submits it, the applicant also is asked for his or her email address. If the application is denied, ABC sends an adverse action notice to the applicant's email address listed on the application. Using this procedure, what is ABC Bank's responsibility?

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Suggested Answer: B

Contribute your Thoughts:

Matthew
8 days ago
I disagree. ABC Bank's responsibility is to obtain the applicant's affirmative consent before sending the notice.
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Kristeen
12 days ago
I agree with Maryanne. It's important to have a physical copy of the notice.
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Maryanne
14 days ago
I think ABC Bank should send a paper notice by regular mail also.
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