A major controversy involving the banking industry in its early years was
A. whether banks should both accept deposits and make loans or whether these functions should be separated into different institutions.
B. whether the federal government or the states should charter banks.
C. what percent of deposits banks should hold as fractional reserves.
D. whether banks should be allowed to issue their own bank notes.
Answer:B
A major controversy involving the banking industry in its early years was
A. whether banks should both accept deposits and make loans or whether these functions should be separated into different institutions. B. whether the federal government or the states should charter banks. C. what percent of deposits banks should hold as fractional reserves. D. whether banks should be allowed to issue their own bank notes.