Multiple Choice
Statement I: Under the Depository Institutions Deregulation and Monetary Control Act of 1980,all banks and thrift institutions are subject to the reserve requirements of the Federal Reserve.
Statement II: Under the Depository Institutions Deregulation and Monetary Control Act of 1980 all banks and thrift institutions are legally authorized to issue checking accounts.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Correct Answer:
Verified
Correct Answer:
Verified
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