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Business law, Banks are financial institutions that are regulated by legal statutes. Such laws may operate both at the state level as well as at

Business law, Banks are financial institutions that are regulated by legal statutes. Such laws may operate both at the state level as well as at the federal level. Banking laws control interest rates, operations of checking accounts, receipt, and transfer of checks and other negotiable instruments, the insurance amount for deposits, etc. Bankruptcy laws provide for the reduction and elimination of dischargeable debts and can also provide a timeline for the repayment of certain non-dischargeable debts.

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