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Question
Which of the following is true of the Glass-Steagall Act?a. The act provides authority to the Federal Reserve to regulate bank holding companies and prevent them from branching out.
b. The act enables banks to engage in more non-banking activities by operating subsidiaries.
c. The act prohibits banks to own subsidiary firms that sold products other than banking services.
d. The act encourages banks to meet the credit needs of their communities.
Answer
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