What is the Rationalization, Opportunity and Pressure?
100
This is the effective date of the Act refresh
What is September 7th, 2016?
100
This regulation prohibits lenders from discriminating against credit applicants
What is Regulation B?
100
Aside from the state license, this agency requires MSBs to be registered every 2 calendar years.
What is FinCEN?
100
This is the percentage of national robberies that are financial institution robberies
What is 2%?
200
This is designed to reduce the cost of correction by discouraging the opportunity to commit fraud
What is Preventive Controls?
200
The refresh allows credit unions to include this in their assumed names
What is Credit Union?
200
This regulation sets requirements for depository institutions to maintain reserve balances, either with FRB, or as cash
What is Regulation D?
200
This Michigan Act requires MSBs to obtain licensing from DIFS, unless they are an authorized delegate of a licensee or only cashing checks
What is the Money Transmission Services Act?
200
This is a form of robbery where the perpetrator commits the crime with minimal attention drawn to them
What is the note robbery?
300
This section, sub-section and part of the MCUA requires the Board and Management to establish Internal Controls
What is Section 342(4)(G)?
300
Section 207(16) was added to remove this from the examination report
What is best practices?
300
This regulation provides rules to implement notice and opt-out provisions of the Fair Credit Reporting Act.
What is Regulation V?
300
This is described as, but not limited to, any person doing business as a money transmitter, check casher, or seller of travelers checks, money orders, or stored value device
What is an MSB?
300
In the event of an active shooter situation, these 3 options are recommended
What is Run, Hide, Fight?
400
This component of Internal Control helps assess the quality of performance over time
What is monitoring activities?
400
Within 1 year of the amended act, the director shall issue guidance on this to promote consistency
What is exam scope?
400
This regulation prescribes methods for computing the cost of credit, disclosing credit terms, and resolving errors on credit accounts
What is Regulation Z?
400
Establishing an anticipated business cycle for MSBs and organizational chart are examples of items which should be included in this document
What is a risk analysis or assessment?
400
This is a form of robbery where the perpetrator commits the crime during the early hours of operation
What is the Morning Glory Robbery?
500
This is the control objective in which tone at the top best fits and provides a foundation for effective internal control structure
What is control environment?
500
The change to 342(3)(p) of the Act changes the requirements of the frequency of Board meetings to this
What is 6 times and every other month?
500
This regulation establishes the rights, liabilities, and responsibilities of parties in Electronic Funds Transfers
What is Regulation E?
500
The Money Transmission Services Act requires an MSB to maintain records for this many years
What is 3?
500
This is scenario where there the individual is armed and takes control of an area, with no pattern or method when selecting a target