American Bankers Association Exam CRCM Topic 6 Question 88 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 88
Topic #: 6

[All CRCM Questions]

In which of the following situations does a bank need to post a branch closing notice?

AA bank closes a branch temporarily because of heavy hurricane damage.

BA bank closes a branch in a suburban neighborhood because business has not adequately developed there.

CA bank decides not to exercise its option to purchase a branch it has been temporarily running for the FDIC as a part of a purchase of a failed institution.

DA bank closes a branch and moves it 850 feet down the street.

Show Suggested Answer

Suggested Answer: B

by Alease at May 17, 2024, 11:37 AM

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Ezekiel

8 days ago

But what about situation D? Moving a branch down the street doesn't seem like a big deal.

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Jacinta

12 days ago

I agree with Delsie. The heavy hurricane damage is a valid reason for posting a notice.

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Emilio

18 days ago

Option B seems the most straightforward - the bank is closing a branch due to lack of business, so they would need to post a notice. The other options don't seem to clearly require a notice.

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Delsie

21 days ago

I think the bank needs to post a branch closing notice in situation A.

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