Which of the following may be true of nonbanks?

Name: Which of the following may be true of nonbanks?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Nonbanks, such as fintech companies, may face less regulation and lower costs compared to traditional banks. They also do not face reserve requirements and may not have to maintain full service branches. However, it is important to note that some nonbanks may still be subject to certain regulations and requirements depending on their activities and services offered.

Which of the Following May Be True of Nonbanks