CRCM Practice Questions - CRCM Certified Regulatory Compliance Manager Exam

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Before a bank may assess a fee for paying an ATM or one-time debit card overdraft, what must generally occur under Regulation E?

The consumer must receive a post-transaction notice within 24 hours The consumer must first overdraw the account at least twice The bank must treat the service as a line of credit under Regulation Z The consumer must affirmatively opt in to the overdraft service for those transactions

Correct Answer:

The consumer must affirmatively opt in to the overdraft service for those transactions

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