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CRCM Exam - Question 200


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

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Correct Answer: AB

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.

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Cam22Option: B
Mar 17, 2024

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.