license authorizing a bank to operate usually called national banks

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	charter
B	FDIC
C	Savings and Loans association

Explanation:

Detailed explanation-1: -At the federal level, the Office of the Comptroller of the Currency (OCC) grants charters. A charter allows a financial institution to perform certain financial services, including accepting deposits, making loans, and providing a range of fiduciary services to its customers.

Detailed explanation-2: -A chartered bank is a financial institution engaged in the business of providing monetary transactions, such as safeguarding deposits and making loans. Most chartered banks have received their government’s permission to operate in the financial services industry.

Detailed explanation-3: -Applying for a Bank Charter The proposed bank must first receive approval for a federal or state banking charter. Before granting a charter, the chartering regulator must determine that the applicant bank has a reasonable chance for success and will operate in a safe and sound manner.

There is 1 question to complete.