The regulatory system that permitted the organization of a bank by any group that met certain criteria is known as a ________.
A) bilateral regulatory system
B) tiered regulatory system
C) two-tiered regulatory system
D) free banking system

Question

Quizplus · Accepted Answer

The free banking system allowed any group that met certain criteria to organize a bank without the need for extensive government regulation. This system was popular in the United States in the early 19th century.

The Regulatory System That Permitted the Organization of a Bank