Internal Control Questionnaires and Verification Procedures

Policies

1. Has the board of directors, consistent with its duties and responsibilities, adopted written policies that established:

   1. Procedures for reviewing credit card applications?

   2. Procedures for reviewing credit card applications?

   3. Minimum standards for documentation?

   4. Standards for collection procedures?

2. Are policies reviewed at least annually to determine that they are compatible with changing market conditions and the bank’s strategic plan?

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