Which of the Following Is True About the Monetary Control

question 100

Multiple Choice

Which of the following is true about the Monetary Control Act of 1980?

• A)It reduced the distinction between different types of depository institutions.
• B)It further restricted the Federal Reserve's control of the banking system.
• C)It placed S&Ls,credit unions,mutual savings banks,and nonmember banks under regulatory institutions other than the Fed.
• D)It deregulated the banking industry.

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Definitions:

Establish

To set up or lay the foundation for something, often referring to creating a new business, institution, or system.

General Partners

Individuals in a partnership who have full liability for the debts of the partnership and take part in managing the business.

Conversion Clause

A provision in a contract or policy allowing for the change of one form of benefit or contract to another, such as converting from a term to a whole life insurance policy.

Fiduciary Duty

The obligation to act in the best interest of another party, such as a trustee's duty towards the beneficiaries of the trust.