Statement I: Branch banking is prohibited in most states.
Statement II: All banks are chartered in the states in which they have their headquarters.

Question

Quizplus · Accepted Answer

Statement I is false because branch banking is allowed in most states, with regulations varying by state. Statement II is false because banks can be chartered either by the state or by the federal government (through the Office of the Comptroller of the Currency for national banks).

Statement I: Branch Banking Is Prohibited in Most States