Examice

Exam CRCM All QuestionsBrowse all questions from this exam

Question 200

As an alternative to providing a periodic statement, a financial institution holding payroll card accounts may make available:

The account balance, accessed through a readily available telephone line

An electronic history of the account that covers a period of at least 60 days preceding the time the consumer electronically accesses the account

A written history of account transactions, available on request that covers a period of at least 15 days preceding the date of the consumer request

A written history of account transactions, available on request that covers a period of at least 30 days preceding the date of the consumer request

Correct Answer: A, B

As an alternative to providing a periodic statement, a financial institution holding payroll card accounts may make available the account balance, accessed through a readily available telephone line, and an electronic history of the account that covers a period of at least 60 days preceding the time the consumer electronically accesses the account. These options ensure that consumers have continuous access to their account information for monitoring and transparency.

Discussion

Cam22Option: B

Financial institutions holding payroll card accounts may make available an electronic history of the account that covers a period of at least 60 days preceding the time the consumer electronically accesses the account. This provides consumers with access to their account history and balances, ensuring transparency and easy monitoring of their transactions.