Question

Since the passage of the International Banking Act of 1978, the competitive advantage enjoyed by foreign banks in the U.S. has been Question 2 options: A) reduced. B) mildly expanded. C) completely eliminated. D) greatly expanded.

Answer 1

The correct answer is letter "C": completely eliminated.

Step-by-step explanation:

The International Banking Act of 1978 was passed to give uniformity to the regulations imposed on banks moreover to those with international brands. The Act made U.S. banks with foreign facilities to be regulated equally within the U.S. and abroad and be subject to the Federal Deposit Insurance Corporation (FDIC).

Thus, the competitive advantage of banks of following different rules domestically and internationally was completely eliminated by the International Banking Act of 1978.