American Bankers Association CRCM Exam - Topic 9 Question 3 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 3
Topic #: 9

[All CRCM Questions]

In the mid-1980s a movement began among the federal supervisory agencies to produce a uniform ARM regulation. In 1988, the Federal Reserve Board added the uniform ARM disclosure requirements to a regulation. Therefore, most of the original OCC ARM consumer protection requirements are now found in this new regulation. Adjustable rate mortgage loans made by national banks may be subject to the OCC's ARM regulation or the requirements of this new regulation, or both. This new regulation is:

ARegulation Z

BTruth in Lending

CCFR 34.21, 34.22 and 34.23

DFIRREA penalty

Show Suggested Answer

Suggested Answer: A, B

by Hubert at May 04, 2022, 09:21 AM

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Kent

4 months ago

Both OCC and Regulation Z apply to ARMs, good to know!

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Lilli

4 months ago

Wait, are we sure about that? Seems too simple.

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Herminia

4 months ago

Definitely Regulation Z, it covers the disclosures.

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Karon

4 months ago

I thought it was Truth in Lending?

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Haley

5 months ago

Regulation Z is the one!

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Arlette

5 months ago

This seems like a tricky one. I'll need to think through the requirements carefully to make sure I don't miss anything.

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Joseph

5 months ago

This seems like a tricky situation. I'm not sure if I should go with the quick fix or try to find another solution. I'll have to think this through carefully.

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Stanford

5 months ago

I think the answer is B. "Disable All Macros Without Notification" seems to be the option that disables all macros without any security warnings.

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