Which federal agency has primary enforcement authority for fair lending violations by national banks?
Correct Answer
C) Office of the Comptroller of the Currency (OCC)
The OCC has primary supervisory and enforcement authority over national banks for fair lending compliance. While the CFPB has broad fair lending authority, the OCC maintains primary oversight of national banks under the dual banking system.
Why This Is the Correct Answer
The OCC has primary supervisory and enforcement authority over national banks for fair lending compliance. While the CFPB has broad fair lending authority, the OCC maintains primary oversight of national banks under the dual banking system.
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