Which of the following laws and regulations do trust examiners typically not assess compliance with?

Which of the following laws and regulations do trust examiners typically not assess compliance with?

• A. Regulation C
• B. Regulation H
• C. ERISA
• D. State tax code

Answer: (A)

Trust examiners primarily focus on regulations that govern trust operations and fiduciary responsibilities. Regulation C, which pertains to the Home Mortgage Disclosure Act, is not directly related to trust examination. It primarily deals with mortgage lending practices and their disclosure requirements, making it less relevant in the context of trust compliance assessments. In contrast, Regulation H relates to the membership requirements of state chartered banks, ERISA (Employee Retirement Income Security Act) governs employee benefit plans including those related to trusts, and state tax codes are essential for understanding the tax implications and responsibilities related to trusts. These regulations are within the purview of trust examiners as they assess compliance with laws directly impacting fiduciaries and trust operations. Thus, the focus of trust examiners on the other regulations further supports why Regulation C is typically not assessed during trust examinations.

Trust examiners primarily focus on regulations that govern trust operations and fiduciary responsibilities. Regulation C, which pertains to the Home Mortgage Disclosure Act, is not directly related to trust examination. It primarily deals with mortgage lending practices and their disclosure requirements, making it less relevant in the context of trust compliance assessments.

In contrast, Regulation H relates to the membership requirements of state chartered banks, ERISA (Employee Retirement Income Security Act) governs employee benefit plans including those related to trusts, and state tax codes are essential for understanding the tax implications and responsibilities related to trusts. These regulations are within the purview of trust examiners as they assess compliance with laws directly impacting fiduciaries and trust operations. Thus, the focus of trust examiners on the other regulations further supports why Regulation C is typically not assessed during trust examinations.