Regulators Do Not Consider a Financial Institution to Be a Bank

question 9

Multiple Choice

Regulators do not consider a financial institution to be a bank if it does not

• A) take deposits.
• B) borrow from the Fed.
• C) both of the above.
• D) neither of the above.

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Definitions:

House of Representatives

The lower chamber of the United States Congress, consisting of representatives elected from each state based on its population, responsible for making and passing federal laws.

Senate

One of the two houses of the legislature in many countries, including the United States, where it acts as the upper chamber in Congress, involved in lawmaking and government decision-making.

Civil Law

The body of law applicable to lawsuits involving two private parties.

Criminal Law

The body of law setting out public wrongs that the government attempts to correct by prosecuting wrongdoers.