The U.S. banking system is considered to be a dual system because
A. banks offer both checking and savings accounts.
B. it actually includes both banks and thrift institutions.
C. it is regulated by both state and federal governments.
D. it was established before the Civil War, requiring separate regulatory bodies for the North and South.
Answer:C
The U.S. banking system is considered to be a dual system because
A. banks offer both checking and savings accounts. B. it actually includes both banks and thrift institutions. C. it is regulated by both state and federal governments. D. it was established before the Civil War, requiring separate regulatory bodies for the North and South.