Statement I: Banks Require a Minimum Balance of Checking Accounts

question 4

Multiple Choice

Statement I: Banks require a minimum balance of checking accounts because it cost them money to process each check.
Statement II: The American Bankers Association has successfully beaten back attempts to pass legislation requiring banks to provide free check-cashing services to the poor.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.