The United States banking system, by the end of the nineteenth century, became A. a decentralized system of state banks to a centralized system of state and national banks.
There was no central banking institution in the United States until 1913, when Congress created the central bank, called the Federal Reserve System (the Fed). The Fed went into operation in 1914 with 12 regional Reserve Banks.
Thus, the US banking system has always preferred decentralization to centralization to ensure that financial power does not concentrate at the federal level.
Learn more: https://brainly.com/question/25234155
