Multiple Choice
Which of the following is true?
A) All banks must process all checks through the Federal Reserve System.
B) All banks must process all "on them" checks through the Federal Reserve System.
C) The Federal Reserve System includes at least one regional bank in each state.
D) The Federal Reserve System is not permitted to charge a fee for is processing services.
E) Some banks use private clearinghouses, instead of the Federal Reserve System, to process checks.
Correct Answer:
Verified
Correct Answer:
Verified
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