Statement I: the Check Clearing for the 21^st Century Act

Multiple Choice

Statement I: The Check Clearing for the 21^st Century Act passed by Congress in 2004 with the intent to hasten the adoption of electronic check processing.
Statement II: The Fed performed its lender of last resort duty during the last major emergency after the terrorist attacks of 9/11 by lending over $45 billion to banks and thus avoiding a financial panic.

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.