Certified Regulatory Compliance Manager (CRCM) — Question 278

A bank is planning to sell eight branches. The compliance officer participates on a bank committee to oversee the process. What should be the compliance officer's PRIMARY concern?

Answer options

• A. That the bank's revenues will not be affected severely
• B. That the branches are closed in accordance with bank policy
• C. That customers of the branches will continue to have access to banking services
• D. That the bank's confidential information is returned to the main office

Correct answer: B

Explanation

The primary concern of the compliance officer should be to ensure that the branches are closed in compliance with bank policy, as this is essential for regulatory adherence. While the other options address important aspects of the sale, they are secondary to the need for proper closure procedures to maintain legal and operational integrity.