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
he OCC (Office of the Comptroller of the Currency) recommends several actions to help prevent a national bank from purchasing or acquiring predatory or abusive loans. However, requiring the broker to establish a reserve account for legal contingencies is not among the recommended practices. The other options, including establishing policies on the bank's relationship with third-party brokers and originators, reviewing loan documentation, and auditing the third-party broker, are all recommended by the OCC to prevent the acquisition of predatory or abusive loans.
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Cam22
4 months ago