The Regulatory System That Has Evolved in the United States

question 31

Multiple Choice

The regulatory system that has evolved in the United States whereby banks are regulated at the state level,the national level,or both,is known as a

• A)bilateral regulatory system.
• B)tiered regulatory system.
• C)two-tiered regulatory system.
• D)dual banking system.

---

Definitions:

Charitable Contributions

Financial or material donations made to non-profit organizations, which are often tax-deductible for the donor.

Subchapter S

A section of the Internal Revenue Code that allows corporations to elect a special tax status which enables them to be taxed similar to a partnership, avoiding double taxation.

Voluntary Revocation

This term denotes a deliberate act of giving up or canceling a right, privilege, or license, usually in a legal or regulatory context.

Shareholders

Individuals or entities that own shares in a corporation, thus having partial ownership and potentially receiving dividends from profits.