Bus 100 Week 2 Discussion 1

Week 2 Discussion 1 "Banks and Other " Please respond to the following:U.S. banks are highly regulated by the Federal Government. Take a position on whether you believe that federal regulation helps or hurts U.S. banks. Provide support for your position.I believe that federal regulation does help U.S. banks. The federal regulation works to maintain a sound financial system. A bank’s compliance with laws and regulations can greatly affect the economy and the effectiveness of monetary policy. Federal regulations also work to ensure that banks safely manage their operations and provide fair service to customers. Overall, the Federal Government put federal regulations in place to protect the finances of consumers as well as the nation’s finances. A few responsibilities of Federal Reserve Banks are furnish currency, collect and clear checks, transfer funds for depository institutions, and handle U.S. government debt and cash balances. Federal regulations ensure that these responsibilities are correctly performed. From the first e-Activity, identify the two institutions you researched. Discuss how they are similar and how they differ. Then, summarize what this says about financial institutions today.The two institutions I researched are my bank, Bank of America, and a financial institution that isn’t a bank, StateFarm Insurance