Following Beta Bank's discovery that the creditworthiness assessment was incorrectly completed on Doireann, which action should the bank take?

• A. Must ensure that the creditworthiness assessment is carried out again and marked on the file.
• B. Cannot cancel the credit agreement as it was issued on the basis that the creditworthiness assessment was incorrectly conducted.
• C. Should cancel the existing credit agreement immediately and reissue it following the completion of a new creditworthiness assessment.
• D. Must ensure that Doireann repays the money advanced to her within 30 days.

Answer: (A)

When a creditworthiness assessment has been found to be incorrectly completed, the bank must redo the assessment to determine affordability based on accurate information and add the corrected result to the borrower's file. This ensures the lending decision rests on valid data and creates a clear audit trail for compliance and review. It also avoids making changes to the loan based on faulty information; only after the new, proper assessment is completed should any further action be considered. The other options imply automatic cancellation, reissuing, or rapid repayment without addressing the need for a correct, documented assessment first.