The OCC Recommends All but One of the Following Actions

question 219

Multiple Choice

The OCC recommends all but one of the following actions to help prevent a national bank's purchasing or acquiring predatory or abusive loans. Which practice is NOT recommended?

• A) Establish policies on the bank's relationship with third-party brokers and originators
• B) Review loan documentation
• C) Audit the third-party broker
• D) Require the broker to establish a reserve account for legal contingencies

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Definitions:

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A measure of the impact humans have on the environment, quantifying the amount of natural resources used and waste produced.

Population Growth

The increase in the number of individuals in a population, often influenced by factors such as birth rates, death rates, and migration.

Direct Quotation

A direct quotation is the exact reproduction of the words of a speaker or a text.

Paraphrase

The act of rephrasing or rewriting text in one's own words while maintaining the original meaning.