Question

Does outsourcing trust account processing reduce a trust institution's need to monitor operational risk?

a) TRUE
b) FALSE

Answer 1

The Panic of 1819 decreased the American people's faith in the Second Bank of the United States due to the economic downturn and reckless credit policies it implemented.

Step-by-step explanation:

The Panic of 1819 involved the first widespread economic crisis in the United States, which marked a significant downturn in the national economy. Due to reckless practices by the Second Bank of the United States, there was a tightening of credit, which exacerbated the depression. As a consequence, the American public's trust in the Second Bank was deeply undermined.

Therefore, the correct answer to whether the Panic of 1819 increased the American people's faith in the Second Bank of the United States is b. False