A major controversy involving the banking industry in its early years was
A) whether banks should both accept deposits and make loans or whether these functions should be separated into different institutions.
B) whether the federal government or the states should charter banks.
C) what percent of deposits banks should hold as fractional reserves.
D) whether banks should be allowed to issue their own bank notes.
Correct Answer:
Verified
Q11: Although the National Bank Act of 1863
Q12: Because of the abuses by state banks
Q13: The belief that bank failures were regularly
Q14: The National Bank Act of 1863,and subsequent
Q15: Currency circulated by banks that could be
Q17: The regulatory system that has evolved in
Q18: The U.S. banking system is considered to
Q19: The Federal Reserve Act of 1913 required
Q20: Today the United States has a dual
Q21: Both _ and _ were financial innovations
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