Technological Advances and the Ability to Access a Nationwide Market

Multiple Choice

Technological advances and the ability to access a nationwide market from one location allowed the growth of Industrial Loan Corporations (ILCs) during the 1990s and illustrate competitive risks of other FIs.Which of the following is true of ILCs?

A) They can only operate within the state where they are established.
B) They are regulated by the Federal Reserve.
C) The deposits of ILCs are insured by the FDIC.
D) ILCs are subsidiaries of traditional commercial banks.
E) Oversight of ILCs is provided by the Office of the Comptroller of the Currency.