Regulatory agencies such as the OCC and the FDIC add to the banking system.

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Question:

Regulatory agencies such as the OCC and the FDIC add to the banking system.

A, risk
B. law
C. monopoly
D. safety
The answer is SAFETY

Answer:

The correct answer is “C”.

The Office of the Comptroller of the Currency (OCC) is the federal government agency in charge of supervising and regulating national banks and cooperative banking entities. On the other hand, the Federal Deposit Insurance Commission (FDIC) is a government corporation in charge of providing deposit insurance to depositors in commercial banks.

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Both entities operate in order to guarantee a certain level of security towards the customers when acquiring services from banking institutions.

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