Which of the following is not a reason for the rapid expansion of U.S.banks overseas?
A) the establishment of the Edge Act
B) overall expansion of U.S.world trade
C) the growth of multinational corporations
D) the International Bank Act of 1978
E) None of the above.

Question

Quizplus · Accepted Answer

The International Bank Act of 1978 actually facilitated the expansion of U.S. banks by permitting them to establish foreign branches without prior approval from the Federal Reserve. Therefore, option D is not a reason for the rapid expansion of U.S. banks overseas. The other options - A, B, and C - all played a role in the expansion of U.S. banks overseas by creating a favorable regulatory and economic environment.

Which of the Following Is Not a Reason for the Rapid