Financial institutions are more diversified today than they were in the past, when federal laws kept investment banking houses, commercial banks, insurance companies, and similar organizations quite separate. Today the larger financial corporations offer a variety of services, ranging from checking accounts, to insurance, to underwriting securities, to stock brokerage.

Question

Quizplus · Accepted Answer

This statement is true. Federal laws that kept different types of financial institutions separated have been relaxed or eliminated, allowing for greater diversification within the industry.

Financial Institutions Are More Diversified Today Than They Were in the Past