Certified Regulatory Compliance Manager (CRCM) — Question 83

According to FDIC Guidance on Spousal Signature Provisions, if the creditor requires the spouse's signature on an instrument that imposes personal liability, the creditor's belief should be:

Answer options

• A. Supported by a thorough review of pertinent statutes, decisional law, or an opinion of the state's attorney general
• B. Supported by a thorough review of pertinent statutes
• C. Supported by decisional law
• D. Supported by an opinion of the state's attorney general

Correct answer: A

Explanation

The correct answer is A because it encompasses all necessary legal bases, ensuring the creditor's belief is well-founded. Options B, C, and D are insufficient on their own as they lack the comprehensive support that includes both statutes and decisional law, or an opinion from the attorney general.