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3I0-013 · Question #107

If a bank incurs interest charges from having overdrawn an account due to a late payment from acounterparty:

The correct answer is C. The bank should file a complaint with ACI's Committee for Professionalism. See the full explanation below for the reasoning.

Question

If a bank incurs interest charges from having overdrawn an account due to a late payment from acounterparty:

Options

  • AThe bank is entitled to seek reimbursement from the party responsible for the late payment.
  • BNothing can be done to compensate the bank for the interest charges it incurs.
  • CThe bank should file a complaint with ACI's Committee for Professionalism.
  • DThe bank will automatically be reimbursed by the party responsible for the late payment.

How the community answered

(25 responses)
  • A
    8% (2)
  • B
    4% (1)
  • C
    84% (21)
  • D
    4% (1)

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