A bank is planning to sell eight branches. The compliance officer participates on a bank committee to oversee the process. What should be the compliance officer's PRIMARY concern?
A bank is planning to sell eight branches. The compliance officer participates on a bank committee to oversee the process. What should be the compliance officer's PRIMARY concern?
The primary concern of the compliance officer should be that customers of the branches will continue to have access to banking services. This ensures that the bank's obligations toward its customers are met and regulatory requirements regarding customer service and access are upheld. Other considerations such as ensuring that the branches are closed in accordance with bank policy, ensuring confidentiality, and the impact on the bank's revenues are also important but secondary to maintaining customer service continuity.
B is correct