Which of the Following Statements Best Describes How the Automated

question 59

Multiple Choice

Which of the following statements best describes how the Automated Clearing House Network (ACH) maintains its integrity as a processor of electronic payments?

• A) The ACH network is an institution within the Federal Bank System and is regulated by strict government standards.
• B) The ACH network is a for-profit company and is regulated by its need to make a profit, which it can only do by strictly regulating itself.
• C) The ACH network is a financial institution and is thus regulated by its obligations to its investors.
• D) The ACH network is a not-for-profit association and is regulated by its independence from outside interests.
• E) The ACH network is a professional organization to which all financial institutions are obligated to contribute resources and is regulated by the interests of these institutions.

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Definitions:

Patriotic Spirit

Refers to a sense of national pride and loyalty towards one’s country, often manifested through the celebration of national history, culture, and values.

Liberal Congress

Refers to a legislative body, typically of a country, that is dominated or influenced by liberal political ideologies, focusing on progress, reform, and the protection of individual rights.

Legal Discrimination

Involves the enactment and enforcement of laws that differentiate treatment of groups or individuals based on attributes like race, gender, or religion.

Civil Rights Act of 1964

The Civil Rights Act of 1964 is landmark U.S. legislation that outlawed discrimination based on race, color, religion, sex, or national origin, primarily in public accommodations and employment.