Final answer:
Technology advancements at the end of the 20th century, such as electronic banking and the internet, made the McFadden Act obsolete by enabling banks to provide services beyond physical branches.
Step-by-step explanation:
The McFadden Act, also known as the Amendment to the National Banking Act of 1864, was passed by Congress in 1927 and restricted branch banking in the United States. However, technology advancements at the end of the 20th century made the McFadden Act obsolete.
Technology innovations such as electronic banking and the internet allowed banks to provide services beyond their physical branches. With online banking and ATMs, customers could access their accounts and conduct transactions from anywhere, eliminating the need for a large network of physical branches. As a result, the restrictions imposed by the McFadden Act became irrelevant.
By embracing technology, banks were able to offer more convenience and efficiency to their customers while reducing costs. This shift in the banking landscape ultimately rendered the McFadden Act ineffective and outdated.