The Community Reinvestment Act allows federal regulators to bring cease-and-desist actions and civil-money-penalty actions against banks and bank officers and directors where banks are found not in compliance with the CRA.True or False?

Where a bank enters into a written agreement with its primary federal regulator and later breaches that agreement, the regulator may initiate a cease-and-desist enforcement action against the bank.True or False?

Which of the following affiliates of a bank is/are not "functionally regulated" entities:

a.Insurance subsidiary

b.Securities broker-dealer subsidiary

c.Investment company subsidiary or its advisor

d.An operating subsidiary

e.A financial subsidiary

The Federal Financial Institutions Examination Council (FFIEC) was established to ensure efficient examination and coordination of insured depository institutions.Circle the federal agency or agencies that are not members of FFIEC.

a.Office of the Comptroller of the Currency

b.Federal Deposit Insurance Corporation

c.Federal Reserve Board

d.National Credit Union Administration

e.Securities and Exchange Commission

f.Consumer Financial Protection Bureau

g.Securities Investors Protection Corporation

h.Financial Stability Oversight Council