A bank’s board of directors should accept the written system and oversee its execution

A bank’s board of directors should accept the written system and oversee its execution

Federal Trade Commission Act (FTC Act) The Federal Trade Commission Act (FTC Act) declares that unjust or misleading trade techniques are unlawful.

State nonmember banking institutions and their institution-affiliated parties is going to be cited for violations of part 5 for the FTC Act while the FDIC will require appropriate action pursuant to its authority under area 8 regarding the Federal Deposit Insurance Act when unjust or deceptive trade techniques are found. Examiners should concentrate attention on advertising programs for pay day loans, and be alert for possibly collection that is abusive. Read More “A bank’s board of directors should accept the written system and oversee its execution”

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