Solved

Russell Recently Moved and Is Considering Opening a Checking Account

Question 41

Multiple Choice
Russell recently moved and is considering opening a checking account at Mountain Ridge Bank.Under the UCC and/or the Truth in Savings Act,the bank is required to:

Russell recently moved and is considering opening a checking account at Mountain Ridge Bank.Under the UCC and/or the Truth in Savings Act,the bank is required to:


A) provide Russell with a monthly statement of his checking account transactions.
B) include Russell's canceled checks with his monthly statement.
C) keep legible copies of Russell's canceled checks on hand for ten years and provide copies to him within a reasonable time at his request if the bank does not return his canceled checks to him.
D) disclose, before Russell opens an account, the interest rate on the account, any requirements such as minimum account balance and initial deposit he must meet to earn that interest rate, and any fees or penalties imposed by the bank.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents