Which of the Following Is Not True Regarding the Financial

question 38

Multiple Choice

Which of the following is not true regarding the Financial Services Modernization Act of 1999?

• A)It provided more momentum for the consolidation of financial services.
• B)Financial institutions were finally able to offer a diversified set of financial services without being subjected to stringent constraints on the form or amount of financial services that they could offer.
• C)Banks and other financial service firms were given more freedom to merge, but were forced to divest some of the financial services that they acquired.
• D)Financial institutions no longer had to search for loopholes or monitor their business to ensure that the degree of financial services offered remained within the regulatory constraints that were previously imposed.
• E)all of the above are true

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Definitions:

Delivering Funds

The process of transferring money from one party to another, which can occur through various methods such as electronic transfer, check, or cash.

Poor Individuals

Persons who lack sufficient financial resources or income to meet their basic living needs according to societal standards.

Basic Criticisms

Fundamental objections or negative evaluations regarding a particular concept, theory, or practice.