The Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980

question 18

True/False

The Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980 and the Garn-St.Germain Depository Institutions Act (DIA) of 1982 were the initial laws that began deregulation of the commercial banking industry.

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Definitions:

Fixed Rate

A fixed rate refers to an interest rate for a loan or mortgage that remains constant over the term of the loan.

Variable Rate

An interest rate which can change over the period of the loan, credit, or investment depending on market conditions.

Investment Account

An account held at a financial institution that holds securities, cash, and other assets for investment purposes.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue, indicating the company's profit.