Question

chapter 17
question 1 (3 points)
the federal reserve was set up by the federal government to supervise and regulate member banks.
true
false
question 2 (2 points)
the difference between a bank and a credit union is that a credit union is non - profit.
true
false
questions 1 - 2 of 2 | page 1 of 1

Explanation:

1. For Question 1: The Federal Reserve was established by the U.S. federal government in 1913, with core functions including supervising and regulating member banks.
2. For Question 2: A key distinction between banks (typically for-profit institutions) and credit unions is that credit unions are member-owned, non-profit financial cooperatives.

Answer:

1. Question 1: True
2. Question 2: True