Question

Why did the U.S. banking system need to be reformed in the early 1900s?

The nation had no central authority to supervise banks.
Interest rates for loans rarely fluctuated.
Banks had full access to their reserves when customers wanted to withdraw money.
Too many people controlled the reserve funds of the nation's banks.

Answer 1

The nation had no central authority to supervise banks. A.

Step-by-step explanation:

Answer 2

The nation had no central authority to supervise banks.

Step-by-step explanation: