eli557
Answered

Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Join our Q&A platform and get accurate answers to all your questions from professionals across multiple disciplines. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

What are the advantages of having a dual banking system? (Select all that apply.)

Federal-chartered bank examination fees are lower than state-chartered fees.
State banks are allowed to act as testing facilities for innovation and change.
Federal regulators have greater familiarity with their member banks.
It promotes competition and helps combat unfair and deceptive practices.

Sagot :

Lanuel

Answer:

State banks are allowed to act as testing facilities for innovation and change.

It promotes competition and helps combat unfair and deceptive practices.

Explanation:

A dual banking system can be defined as a banking system in which state banks and national banks are either chartered and supervised under state or federal law.

This ultimately implies that, the dual banking system makes it possible for both the state banks and the national (federal) banks to co-exist in parallel in the United States of America.

It is a banking system that is unique to the United States of America.

Some of the advantages of having a dual banking system includes;

I. State banks are allowed to act as testing facilities for innovation and change. Whenever there are new technologies, ideas or innovation and changes, the state banks can be used to test run them.

II. Dual banking system promotes competition and helps combat unfair and deceptive practices. All the banks ensure they give their best performance and services to customers in order to remain in the financial business.

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.