A New Charter to Start a State Bank Must Be

question 57

Multiple Choice

A new charter to start a state bank must be obtained from the:

• A) Federal Reserve.
• B) Federal Deposit Insurance Corporation.
• C) Office of the Comptroller of the Currency.
• D) Office of Thrift Supervision.
• E) State banking department.

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Definitions:

Business Firm

An organization engaged in commercial, industrial, or professional activities, either for profit or non-profit.

Independent Regulatory Agencies

Independent regulatory agencies are federal bodies created by Congress to enforce and regulate specific areas of economic activity, operating with some degree of independence from executive control.

Federal Communications Commission

A United States government agency that regulates interstate and international communications via radio, television, wire, satellite, and cable.

Executive Branch

The branch of government responsible for implementing and enforcing laws, usually led by a president or prime minister.