A State Bank That Is a Member of the Federal

question 4

Multiple Choice

A state bank that is a member of the Federal Reserve System and is not in a financial holding company or a bank holding company is mainly supervised by the

• A)Federal Deposit Insurance Corporation.
• B)Federal Reserve.
• C)Office of the Comptroller of the Currency.
• D)National Credit Union Administration.

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Definitions:

Vicarious Performance

A situation where an individual or entity performs a duty or obligation through another party, who acts on their behalf.

Assignment

The transfer of rights, duties, or interests under a contract or agreement from one party to another.

Money Damages

A sum of money awarded in compensation for loss or injury in a civil lawsuit.

Breach of Contract

The failure to perform any term of a contract, agreement, or settlement without a legitimate legal excuse.