The Federal Reserve System Was Created by

question 52

Multiple Choice

The Federal Reserve System was created by

• A)The FDIC in 1929.
• B)The Federal Reserve Act in 1913.
• C)The U.S.Treasury in 1914.
• D)The Federal Banking Authority in 1904.

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Definitions:

Consumer Financial Protection Bureau

A U.S. government agency that aims to ensure consumers are treated fairly by banks, lenders, and other financial institutions.

Federal Reserve Board

The governing body of the Federal Reserve System, responsible for overseeing the nation's monetary policy and regulating banks.

Net Quantity

The actual amount or quantity of a product, excluding any packaging or container.

Telephone Order Merchandise Rule

A regulation designed to protect consumers in transactions made over the telephone, ensuring clear disclosure of terms and conditions.