ABC Bank Has an Interactive Internet Web Site at Which

question 256

Multiple Choice

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?

• A) Post the notice on its Web site also
• B) Send a paper notice by regular mail also
• C) Use a credit scoring system
• D) Obtain the applicant's affirmative consent before sending the notice

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Definitions:

Retain Trained Workers

The strategies and practices employed by organizations to keep skilled employees from leaving the company.

Reduced Labour Costs

Refers to strategies or approaches implemented by organizations to decrease the expenses associated with employee compensation and benefits.

Lost Earnings

Potential income that was not earned due to a particular event or situation, such as an injury or job loss.

Flexible Working Hours

An arrangement that allows employees to choose their work hours within agreed limits, promoting work-life balance.