As the Consumer Compliance Officer for your bank, you have been asked to perform a risk assessment of a new product offering. Your assessment and identified risks are to be presented to the New Product Committee and taken into consideration as they determine whether to approve the new offering, and if so, under what requirements.

Your assessment must include the applicable regulatory guidance and regulations.

Product Specifics:

No fee Deposit Account, with maintaining a minimum balance of $250

Account is limited to ATM and on-line transactions. Banking Center assisted transactions are $1.99 ea.

Debit and ATM cards are fulfilled by a 3^rd party vendor called Cards R Us

Customer Service for this product is provided by a 3^rd party vendor called Here to Help

The below format is provided to assist you in the assessment.

Life Cycle Segment	Applicable Laws, Rules or Regulations	Inherent Risks/What Could Go Wrong
Product Marketing
Account Opening
Account Fulfillment / Day-to-Day