The federal banking agencies have proposed an amendment to Regulation Z that would require a new early disclosure statem
Posted: Thu Jul 21, 2022 8:50 pm
The federal banking agencies have proposed an amendment to Regulation Z that would require a new early disclosure statement for loans secured by the borrower's principal dwelling. After reading the proposed change, what should the compliance professional do FIRST?
A. Establish a task force to study the proposed rule.
B. Contact the bank's platform software vendor to determine whether it will be ready for the change NOTES
C. Prepare a summary document that outlines the effects the proposed rule would have on the bank's operations
D. Train bank staff on the new rule
A. Establish a task force to study the proposed rule.
B. Contact the bank's platform software vendor to determine whether it will be ready for the change NOTES
C. Prepare a summary document that outlines the effects the proposed rule would have on the bank's operations
D. Train bank staff on the new rule