Which of the Following Acts Abolishes the FSLIC and Gives

question 52

Multiple Choice

Which of the following acts abolishes the FSLIC and gives responsibility of thrift deposit insurance to the FDIC​?

• A)​The Garn­St.Germain Act
• B)​The Community Reinvestment Act
• C)​The Federal Deposit Insurance Corporation Improvement Act
• D)​The Financial Institutions Reform, Recovery, and Enforcement Act

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Definitions:

Coins

Metallic forms of money that are legally authorized by a government, typically used as a medium of exchange for goods and services.

Liquid Investments

Investments that can be easily converted into cash without significantly affecting their market price.

Internal Controls

Procedures and policies implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Sarbanes-Oxley Act

A federal law in the United States enacted to protect investors by improving the accuracy and reliability of corporate disclosures.