Statement I: States that prohibit branch banking are unit banking states.
Statement II: To get a bank charter you need to demonstrate three things: (1) that your community needs a bank or an additional bank; (2) that you have enough capital to start a bank;and (3) that you are a good character.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Question

Chandra Lashawn · Accepted Answer

Final Answer : C, Explanation :  Statement I is true because unit banking refers to a system where banks operate independently without branches, which is the case in states that prohibit branch banking. Statement II is true as these are common requirements for obtaining a bank charter.

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