2-29 the Dual Banking System in the U

question 3

True/False

2-29 The dual banking system in the U.S.refers to the operation and establishment of large regional as well as small community banks.

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Definitions:

Overdraft Privileges

A feature offered by banks allowing an account holder to withdraw more money than is currently available in their account, often for a fee.

Fee

A charge for services rendered or for access or admission to facilities or events.

Banks

Banks are financial institutions licensed to receive deposits and provide loans, along with offering various other financial services.

Bank Panics

A situation in which a large number of bank customers withdraw their deposits simultaneously due to fears that the bank will become insolvent.