Which of the following is not true about commercial banks?
A)Commercial banks are corporations chartered under federal and state regulations.
B)Accounts in federally chartered commercial banks are insured against loss by the Bank Insurance Fund of the Federal Deposit Insurance Corporation.
C)Commercial banks offer numerous consumer services.
D)Commercial banks generally pay depositors an interest rate about 0.10 to 0.20 percentage points higher than the rate found at savings banks.

Question

Quizplus · Accepted Answer

The statement "Commercial banks generally pay depositors an interest rate about 0.10 to 0.20 percentage points higher than the rate found at savings banks" is not true. In reality, commercial banks and savings banks often offer similar interest rates for deposits.

Which of the Following Is Not True About Commercial Banks