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Exam CRCM topic 1 question 45 discussion

Actual exam question from ABA's CRCM
Question #: 45
Topic #: 1
[All CRCM Questions]

Under Consumer Leasing Act Enforcement-15 USC 1667d section FIRREA penalties include:

  • A. Penalties up to $8,500 per day for violations of laws and regulations
  • B. Penalties up to $37,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved
  • C. Penalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
  • D. Penalties up to $9,500 per day for violations of laws and regulations
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Suggested Answer: AB 🗳️

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Cam22
4 months ago
All are incorrect
upvoted 1 times
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