Although the National Bank Act of 1863 was designed to eliminate state-chartered banks by imposing a prohibitive tax on banknotes, state banks were able to stay in business by
A. issuing credit cards.
B. ignoring the regulations.
C. acquiring funds through deposits.
D. branching into other states.
Answer:C
Although the National Bank Act of 1863 was designed to eliminate state-chartered banks by imposing a prohibitive tax on banknotes, state banks were able to stay in business by
A. issuing credit cards. B. ignoring the regulations. C. acquiring funds through deposits. D. branching into other states.