Final answer:
The number of distinct U.S. banking organizations has decreased in the past 20 years.
Step-by-step explanation:
The statement is false. In the past 20 years, the number of distinct U.S. banking organizations has decreased, not increased. According to the provided information, in 2008 there were 7,085 banks in the United States, but by the end of 2014, there were 5,571 banks. Furthermore, by 2020, there were 4,374 commercial banks and 627 savings institutions. So, the correct answer is False.