Banks have the ability to apply for a

Question

Quizplus · Accepted Answer

Banks in the United States have the option to apply for either a state charter or a federal charter from regulatory bodies such as the Office of the Comptroller of the Currency (OCC) or the Federal Reserve. A state charter allows a bank to conduct business within that state, while a federal charter allows a bank to operate across state lines. Therefore, the best choice is D as it covers both options available to banks in the US.

Banks Have the Ability to Apply for a