Banks like the Medici Bank in Italy and the Hochstetter Bank in Germany were successful because __________ and they responded well to these new needs.

Question

Quizplus · Accepted Answer

The Industrial Revolution demanded new methods of making payments and obtaining credit, which banks like the Medici Bank in Italy and the Hochstetter Bank in Germany recognized and responded well to, leading to their success. Option A is incorrect because banks generally prefer to give loans to customers with good credit, rather than high interest loans to high-risk customers. Option B is incorrect because banks like the Medici Bank catered to both wealthy and middle-class customers. Option D is incorrect because banks were often controlled by the government at the time. Option E is incorrect because only option C is correct.

Banks Like the Medici Bank in Italy and the Hochstetter