Which item of information is NOT required to be included in a bank's Terms of Business?

• A. Trading name, if different to its legal name.
• B. List of all its directors.
• C. Outline of action the bank may take in the case of default by the consumer.
• D. General statement of the charges imposed directly by the bank.

Answer: (B)

Terms of Business for a bank are focused on the information that directly shapes the consumer relationship: who you’re dealing with, what the bank may do if you fall into default, and what charges you can expect. You’d include the trading name if it’s different from the legal name so it’s clear who the service is from; you’d outline potential actions the bank may take in a default to set expectations and remedies; and you’d provide a general statement of the charges imposed to avoid hidden fees and help you compare costs. The list of all directors is governance information, not part of the customer-facing Terms of Business, and is instead found in corporate filings and annual reports. Therefore, the information not required to be included is the list of all directors.