A small town has a local bank that has been in business for over 50 years. Is this bank required to join the Federal Reserve System?
A. No, only national banks are required to join.
B. Yes, if has accounts with more than $250,000 in them.
C. Yes, banks that are not part of the Fed cannot accept deposits.
D. No, it has been in business so long that joining the fed is not required.