Which of the following led to the development of the financial infrastructure pre- 1910?
A)The use of "Hollerith" or punched cards to storm information
B)The systemization and circulation of credit information
C)The telephone allowing consumers to easily apply for credit
D)The passage of the Federal Fair Credit practices Act
E)None of the above

Question

Quizplus · Accepted Answer

The systemization and circulation of credit information through the creation of credit bureaus such as Dun & Bradstreet and the Retail Credit Company (later known as Equifax) played a significant role in the development of the financial infrastructure pre-1910. This allowed lenders to assess the creditworthiness of potential borrowers and led to the standardization of credit terms and interest rates. The other options listed did not have a significant impact on the development of the financial infrastructure pre-1910.

Which of the Following Led to the Development of the Financial