Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:
A.
National banks that issue debt cancellation contracts and debt suspension agreements with borrowers in connection with loans for personal, family, or household purposes
B.
A national bank may not engage in any practice, including advertising, which would cause a reasonable person to be misled with respect to DSAs and DCCs
C.
A bank must provide the long-form disclosures in writing before the customer completes the purchase of a contract. If the solicitation occurs in person, the long-form disclosures must be provided at that time
D.
A bank must make the short-form disclosures orally at the time the bank first solicits the contract
Option A accurately describes the coverage of Debt Cancellation Contracts (DCCs) and Debt Suspension Agreements (DSAs), stating that national banks issue these agreements with borrowers in connection with loans for personal, family, or household purposes. These agreements provide protection to borrowers in the event of certain covered events, such as disability or involuntary unemployment, and are regulated to ensure transparency and fair practices.
upvoted 1 times
...
Log in to ExamTopics
Sign in:
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.
Upvoting a comment with a selected answer will also increase the vote count towards that answer by one.
So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.
Cam22
4 months ago