The Use of Automated Clearinghouses (ACHs) Saves Money for Consumers

question 78

True/False

The use of automated clearinghouses (ACHs) saves money for consumers, corporations, and financial institutions by reducing transaction costs.

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Definitions:

Treaty of Detroit

This historically refers to any of several agreements made in the 18th and early 19th centuries, often involving land transactions or peace treaties between Native American tribes and colonial or federal governments around the Detroit area.

United Auto Workers

A labor union in the United States and Canada representing workers in the automotive industry, advocating for workers' rights and benefits.

General Motors

An American multinational corporation headquartered in Detroit, Michigan, that designs, manufactures, markets, and distributes vehicles and vehicle parts.

Sunbelt

A region in the United States defined by its warm climate, extending across the Southeast and Southwest, notable for its significant economic growth and population increase in the late 20th century.