Identify the legislation that restricted the branching of nationally-chartered banks to the same guidelines as allowed to state-chartered banks.
A)Bank Holding Company Act.
B)McFadden Act.
C)Garn-St.Germain Act.
D)Glass-Steagall Act.

Question

Quizplus · Accepted Answer

The McFadden Act of 1927 restricted the branching of nationally-chartered banks to the same guidelines as allowed to state-chartered banks, effectively limiting their ability to expand their branch network. The Bank Holding Company Act of 1956, on the other hand, regulated the ownership of banks by companies, limiting the ability of banks to acquire other banks or engage in non-banking activities. The Garn-St.Germain Act of 1982 and the Glass-Steagall Act of 1933 also had significant impacts on the banking industry, but they did not specifically address the branching restrictions for nationally-chartered banks.

Identify the Legislation That Restricted the Branching of Nationally-Chartered Banks