I need help starting this assignment. We are 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 3rd party vendor called Cards R Us

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