Banks in the Collection Process That Are Not the Depository

question 30

Multiple Choice

Banks in the collection process that are not the depository or payer bank are called ________ banks.

• A) intermediary
• B) terminal
• C) collecting
• D) provisional

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Definitions:

Independent Regulatory Commissions

Federal agencies created by Congress to regulate important areas of the nation's economy, designed to be independent from executive control.

Political Pressure

Influence or persuasion exerted by interest groups, political parties, or the public to achieve a desired political or policy outcome.

Civil Service

A sector of government composed mainly of career bureaucrats hired on professional merit rather than appointed or elected, whose role is to implement government policy.

Pendleton Act

A United States federal law enacted in 1883 which established that positions within the federal government should be awarded on the basis of merit instead of political affiliation.