Interstate bank branching was legalized under which Congressional act?
a. Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
b. Glass-Steagall Act
c. Riegle – Neal Act
d. Financial Services Modernization Act
e. Competitive Equality in Banking Act
Answer is c. Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
(This act amends the Bank Holding Company Act of 1956 to authorize the Board of Governors of the Federal Reserve System (the Board) to permit an adequately capitalized and adequately managed bank holding company to acquire existing out-of-State banks, subject to State age law. Cites circumstances under which State law shall still apply if it makes bank acquisition contingent upon retaining a portion of the bank's assets for call by a State-sponsored housing entity.)
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