Savings and Loan Associations Are Allowed to Make Loans for Things

question 151

True/False

Savings and loan associations are allowed to make loans for things like cars,boats,and motorcycles.

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Definitions:

Payment

A transaction or arrangement in which money is exchanged for goods or services.

Business Day

A day on which businesses are normally open for operations, excluding weekends and public holidays.

Depositor

An individual or entity that places money into a bank account for safekeeping.

Deposit

A sum of money placed in an account or given as security for a financial transaction or agreement.