After years of banking with Quality Bank and Trust, Saul decided to switch to a competing institution. Thanks to changes in government regulation, his search will uncover a variety of options; however, he will also learn that banks and nonbanks have merged in order to be more competitive in the banking and financial services industries, which may or may not increase his options.

Question

Quizplus · Accepted Answer

This statement accurately reflects the current state of the banking industry, where both bank and nonbank entities have merged in order to remain competitive.

After Years of Banking with Quality Bank and Trust, Saul