A bank"™s president would like to begin offering a new home equity line of credit product within two weeks. In all cases the borrower"™s principal dwelling will secure the loan. The president has already launched a planned advertising campaign for the bank"™s major service markets. What should the compliance professional do
FIRST?
A. Hire an attorney to write the appropriate legal documents and disclosures
B. Write a memo to the president explaining why the compliance professional should have been in on the process at an earlier date
C. Begin training sessions for the lending and loan operations staff on the compliance issues involved
D. Perform a risk assessment to determine the bank"™s level of risk in offering this new product
A bank"™s president would like to begin offering a new home equity line of credit product within two weeks. In all cases
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