At the conclusion of the application, a loan officer observes her customer becoming noticeably uneasy after reading the URLA discloser containing the FBI’s fraud warning notice. Additionally, the customer hesitates to sign the 1003 for a few moments after reading it. She finally signs it, thanks the loan officer, gets up, and hurries out of the office. What rule, if any, requires the loan officer to take further action?
A. Patriot Act
B. FCRA
C. FTC Red Flags Rule
D. The loan officer is not compelled to do anything since the applicant did not commit any obvious crime or violation
Answer:C
At the conclusion of the application, a loan officer observes her customer becoming noticeably uneasy after reading the URLA discloser containing the FBI’s fraud warning notice. Additionally, the customer hesitates to sign the 1003 for a few moments after reading it. She finally signs it, thanks the loan officer, gets up, and hurries out of the office. What rule, if any, requires the loan officer to take further action?
A. Patriot Act B. FCRA C. FTC Red Flags Rule D. The loan officer is not compelled to do anything since the applicant did not commit any obvious crime or violation