A bank may engage in voluntary self-testing and self-correction of its compliance with Regulation B. If the bank takes any appropriate corrective action, the reports, results, analysis, opinions, and conclusions of the self-test will be protected by a privilege. The privilege will be lost if

Question

Quizplus · Accepted Answer

The privilege protecting the reports, results, analysis, opinions, and conclusions of a self-test under Regulation B will be lost if the information is voluntarily disclosed to the government (Choice B) or used in any manner as a defense to a discrimination charge or made public (Choice C). Loan and application files or other records related to a credit transaction and information derived from such files and records, even if it has been reorganized and summarized for analysis (Choice A) and credit information furnished in response to inquiries concerning an account reflecting the participation of a consumer (Choice D) are not relevant to the loss of privilege under Regulation B.

A Bank May Engage in Voluntary Self-Testing and Self-Correction of Its