Credit unions and other depository institutions differ from member banks of the Federal Reserve mainly in that they ...

a) are exempt from federal oversight

b) are not subject to regulation

c) do not have stock in Federal Reserve Banks

d) serve a nationwide consumer base

Question

Elaine Farley

Business

22 April, 11:26

Credit unions and other depository institutions differ from member banks of the Federal Reserve mainly in that they ...

a) are exempt from federal oversight

b) are not subject to regulation

c) do not have stock in Federal Reserve Banks

d) serve a nationwide consumer base

+4

Answers (1)

Know the Answer?

Belen Hansen · Answer 1

The answer is letter C. do not have stock in Federal Reserve Banks. Depository institutions include commercial banks, savings banks, and credit unions; the others shown are traditionally classified as non-depository institutions. The common bond rule effectively limits the size of credit unions. Credit unions focus on financial products aimed at consumers, not businesses (loan portfolio on next slide)

Credit unions and other depository institutions differ from member banks of the Federal Reserve mainly in that they ...a) are exempt from federal oversightb) are not subject to regulationc) do not have stock in Federal Reserve Banksd) serve a nationwide consumer base

Credit unions and other depository institutions differ from member banks of the Federal Reserve mainly in that they ...

a) are exempt from federal oversight

b) are not subject to regulation

c) do not have stock in Federal Reserve Banks

d) serve a nationwide consumer base