Prior to 1863, all commercial banks in the United States
A. were chartered by the U.S. Treasury Department.
B. were chartered by the banking commission of the state in which they operated.
C. were regulated by the Federal Reserve.
D. were regulated by the central bank.
Answer:B
Prior to 1863, all commercial banks in the United States
A. were chartered by the U.S. Treasury Department. B. were chartered by the banking commission of the state in which they operated. C. were regulated by the Federal Reserve. D. were regulated by the central bank.