For the Following Problems, Choose Among the Following Major Banking

question 29

Multiple Choice

For the following problems, choose among the following major banking laws.
-This legislation permits bank holding companies to acquire banks in other states.

• A)The McFadden Act of 1927
• B)The Glass-Steagall Act of 1933
• C)The Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980
• D)The Garn-St Germain Depository Institutions Act (DIA) of 1982
• E)The Competitive Equality in Banking Act (CEBA) of 1987
• F)The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989
• G)The Federal Deposit Insurance Corporation Improvement Act (FDICIA) of 1991
• H)The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
• I)Financial Services Modernization Act of 1999

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Definitions:

Interest Income

Income earned from deposit accounts, investments, or loans, often subject to taxation at ordinary income tax rates.

Global Bank

A financial institution that provides a wide range of banking services in multiple countries.

Basic Standard Deduction

represents the portion of income not subject to tax that can reduce the taxable income, set by the IRS, varying by filing status.

Dependent

An individual, typically a child or family member, who relies on another for financial support and qualifies for certain tax benefits.