Creditor's Belief on Spousal Signature Requirements

A

The FDIC Guidance on Spousal Signature Provisions provides guidance to creditors on when and how to obtain spousal signatures on instruments that impose personal liability. The guidance is designed to help creditors comply with federal and state laws and regulations governing spousal signature requirements.

According to the guidance, if the creditor requires the spouse's signature on an instrument that imposes personal liability, the creditor's belief should be supported by a thorough review of pertinent statutes, decisional law, or an opinion of the state's attorney general.

Answer option A, "Supported by a thorough review of pertinent statutes, decisional law, or an opinion of the state's attorney general," is the correct answer. This means that the creditor should conduct a comprehensive review of the relevant federal and state laws and regulations, case law, and opinions of the state's attorney general to support their belief that a spousal signature is required.

This approach helps ensure that the creditor is in compliance with applicable legal requirements, which may vary depending on the jurisdiction and the nature of the instrument in question. For example, some states may have specific requirements for spousal signatures on mortgages or other types of loans, while others may not.

By conducting a thorough review of the relevant legal authorities, the creditor can demonstrate that they have taken reasonable steps to comply with applicable laws and regulations, and reduce the risk of legal challenges or disputes related to spousal signature requirements.