The Gramm-Leach-Bliley Act Allows Banks to

question 35

Multiple Choice

The Gramm-Leach-Bliley Act allows banks to

• A)Sell insurance
• B)Underwrite insurance
• C)Sell securities
• D)Invest in real estate
• E)Do all of the above

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Definitions:

Electronic Funds Transfers

Electronic Funds Transfers (EFT) are the digital exchange of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

Electronic Funds Transfers

The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions.

Bank Reconciliation

The process of comparing a company's bank account balance with its financial records to identify discrepancies and ensure accuracy.

Sign Cheques

The action of signing a check as a means of authorizing a bank to transfer funds from the signer's account.