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

Question

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The passage clearly states that financial institutions are more diversified now, offering a range of services that were once kept separate by federal laws.

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