As a result of the Monetary Control Act of 1980:
A) there was less competition among various financial institutions.
B) fewer institutions were permitted to offer checking account services.
C) savings and loan associations were restricted to offering long-term loans.
D) savings and loans paid higher interest rates on short-term deposits to compete for customers.

Question

Quizplus · Accepted Answer

The Monetary Control Act of 1980 allowed for more competition among financial institutions, including savings and loan associations, which led them to offer higher interest rates on short-term deposits to attract customers. This was part of a broader deregulation effort to increase competition and efficiency in the banking sector.

As a Result of the Monetary Control Act of 1980