Question

Full-service banks are authorized to conduct business without a license granted by the federal or state government.

A. True
B. False

Answer 1

B

Step-by-step explanation:

(c) Any person who engages in the business of money transmission without a license as provided herein shall be guilty of a felony and, on conviction thereof, shall be fined not more than $25,000, or imprisoned for not more than 5 years, or both. (July 18, 2000, D.C. Law 13-140, § 24, 47 DCR 3431.) § 26–1024. Promulgation of rules.

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