Exam CRCM topic 1 question 90 discussion

C. Prepare a summary document that outlines the effects the proposed rule would have on the bank's operations. Before taking any further action, the compliance professional should thoroughly understand the implications of the proposed rule change on the bank's operations. By preparing a summary document, the compliance professional can help the bank's management team and other relevant stakeholders grasp the potential impact of the regulation. This understanding is crucial for making informed decisions about how to proceed, including whether to establish a task force, contact vendors, or initiate staff training.