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.