Certified Regulatory Compliance Manager (CRCM) — Question 193

Payroll card accounts established directly or indirectly by an employer for the purpose of electronically transferring an employee's wages, salary, or other compensation on a recurring basis, are covered by:

Answer options

• A. Regulation E
• B. Regulation T
• C. Regulation CC
• D. Regulation Z

Correct answer: A

Explanation

Regulation E governs electronic fund transfers, which includes payroll cards used for direct deposit of wages. The other regulations, such as Regulation T, CC, and Z, pertain to different areas of financial transactions and do not specifically apply to payroll card accounts.