Which of the Following Organizations Does Not Require That Banks

question 58

Multiple Choice

Which of the following organizations does not require that banks report to it?

• A)Internal Revenue Service
• B)Federal Reserve System
• C)Comptroller of the Currency
• D)Federal Deposit Insurance Corporation
• E)Interstate Commerce Commission

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Definitions:

Purchasing Power

The ability of an individual or group to buy goods and services, influenced by their income, savings, and the prices of goods and services.

Inflation

An increase in the general level of prices of products in an economy over a period of time.

Federal Commerce Commission

Likely referring to the Federal Trade Commission, a U.S. federal agency tasked with protecting consumers and promoting competition.

Consumer Protection

Laws and regulations designed to ensure the rights of consumers are protected against unfair practices by businesses.