Which type of account became more widely available as a result of the Garn-St. Germain Act?

The correct choice is the negotiable order of withdrawal accounts. The Garn-St. Germain Act, passed in 1982, aimed to deregulate the savings and loan industry, which had been facing significant challenges. One of the primary impacts of this legislation was to allow savings and loan institutions to offer negotiable order of withdrawal (NOW) accounts.

NOW accounts are interest-bearing accounts that permit account holders to write checks, essentially combining features of both savings and checking accounts. This innovation provided consumers with increased flexibility for managing their funds while earning interest, making them more attractive as a banking option.

In contrast, while money market accounts, certificate of deposit accounts, and high-yield savings accounts all play a role in personal finance, they did not gain their wider availability directly as a result of the Garn-St. Germain Act. This act specifically facilitated the introduction and expansion of NOW accounts in the banking system, marking a significant change in how customers could manage their deposits and access their funds.