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 Products 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.
• 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
• Draft a memorandum to the New Products Committee of your bank.
• Your memorandum should be A FEW pages, single spaced.
•  your assessment must include the applicable regulatory guidance and regulations.
• Please refer to the course materials to complete the assignment. No outside research or resources are needed.
• 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 Management and Servicing