Five different descriptions of regulations

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Reference no: EM131934889

Listed below are five bank regulations followed by five different descriptions of regulations. Select the correct matching of the regulation with the description.

(1) Financial Reform Act of 2010.

(2) Glass-Steagall Act.

(3) Financial Services Modernization Act.

(4) Depository Institutions Deregulation and Monetary Control Act (DIDMCA).

(5) Garn-St. Germain Act.

A. This act allowed for the creation of NOW accounts and it removed interest rate ceilings on deposits.

B. This act removed interstate branch banking restrictions.

C. This act allowed banks to cross state lines in order to acquire a failing institution and to offer money market deposit accounts.

D. This act requires banks granting mortgages to verify the income, job status, and credit history of applicants.

E. This act allowed financial institutions to offer a diversified set of financial services without being subjected to stringent constraints.

(3) and D.

(2) and A.

(5) and C.

(4) and B.

Reference no: EM131934889

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