In the Middle Part of the Twentieth Century, Large Banks

question 127

True/False

In the middle part of the twentieth century, large banks addressed the issue of interstate branch banking restrictions by forming multibank holding companies with bank subsidiaries in different states.

---

Definitions:

Misconduct

Improper or unlawful behavior by a person in a professional or official capacity.

Partnership Business

A type of business organization in which two or more individuals share ownership, profits, and liabilities.

Binds the Firm

Implies an agreement or action that legally obligates a company to a particular course of action or contractual obligation.

Partnership Obligation

Legal responsibilities and duties that arise in a business partnership, including fiduciary duties and liabilities shared among partners.