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American Bankers Association Exam CRCM Topic 7 Question 69 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 69
Topic #: 7
[All CRCM Questions]

A bank received a signed letter criticizing its performance in meeting the credit needs of the community, but not adversely reflecting upon any individual bank employee's reputation. What must the bank do with this letter?

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Suggested Answer: B

by Tonette at Apr 24, 2023, 04:04 PM

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Sharee
2 months ago
Personally, I'd go with A. Getting the board of directors to review and discuss the letter is the best way to address this issue. It's the responsible thing to do.
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Lanie
1 months ago
Retaining it in the CRA public comment file could show the community that the bank takes their feedback seriously.
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Tish
1 months ago
I think filing it with the regional office of the bank's federal regulator might also be a good idea.
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Lizbeth
1 months ago
I agree, having the board of directors review it is important for transparency.
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Felicia
2 months ago
Wait, what? Did the letter mention any individual bank employee's reputation? If not, then C is the way to go. The bank should just file it and move on.
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Lisbeth
10 days ago
C: Retain it in the CRA public comment file
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Iola
14 days ago
B: File it with the regional office of the bank's federal regulator
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Chandra
29 days ago
A: Have it reviewed and discussed by the board of directors
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Cheryll
2 months ago
I'm gonna go with B. Sending it to the regional office of the bank's federal regulator seems like the right way to handle this situation.
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Lisbeth
30 minutes ago
User2: I agree, that seems like a good idea.
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Cherry
3 days ago
User1: I think we should have it reviewed by the board of directors.
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Art
19 days ago
D) Answer it within 10 business days
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Benedict
1 months ago
C) Retain it in the CRA public comment file
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Elza
2 months ago
I think the board of directors should review and discuss it first.
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Yuki
2 months ago
B) File it with the regional office of the bank's federal regulator
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Lanie
2 months ago
A) Have it reviewed and discussed by the board of directors
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Melinda
2 months ago
I agree, sending it to the regional office is the best option.
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Erasmo
2 months ago
D, definitely. The bank needs to respond to the letter within 10 business days. That's the professional thing to do.
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Clarinda
2 months ago
I believe the bank should also retain it in the CRA public comment file for transparency.
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Buck
2 months ago
Hmm, I think the correct answer is C. Retaining the letter in the CRA public comment file seems like the logical step to take here.
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Aleta
20 days ago
Got it, so it's a combination of both options A and C then.
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Jesusita
29 days ago
Yes, they should definitely review it, but the letter should still be retained in the CRA public comment file.
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Aleisha
1 months ago
But shouldn't the board of directors also review and discuss it?
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German
1 months ago
I agree, keeping it in the CRA public comment file is important for transparency.
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Corrie
3 months ago
I agree with Iraida, the board needs to discuss it and take action.
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Iraida
3 months ago
I think the bank should have it reviewed by the board of directors.
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