American Bankers Association Exam CRCM Topic 5 Question 87 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 87
Topic #: 5

[All CRCM Questions]

Payroll card accounts established directly or indirectly by an employer for the purpose of electronically transferring an employee's wages, salary, or other compensation on a recurring basis, are covered by:

ARegulation E

BRegulation T

CRegulation CC

DRegulation Z

Show Suggested Answer

Suggested Answer: D

by Nathalie at May 11, 2024, 07:32 PM

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Nobuko

5 days ago

Hmm, I'm not sure. Could it be Regulation Z since it deals with consumer credit? I'll have to double-check that one.

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Wade

9 days ago

I think Regulation E is the correct answer here. Payroll cards are a form of electronic fund transfer, so they would fall under that regulation.

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Sheridan

22 days ago

I'm not sure, but I think it makes sense that payroll card accounts would fall under Regulation E.

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Arlyne

23 days ago

I agree with Kaycee, because Regulation E covers electronic transfers of wages.

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Kaycee

24 days ago

I think the answer is A) Regulation E.

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