Types of banks
Understand the Problem
The question is asking for the different types of banks that exist, which typically include categories like commercial banks, investment banks, and central banks, among others. This question aims to explore the roles and characteristics of various banking institutions.
Answer
Commercial banks, thrifts (savings and loan associations and savings banks), and credit unions.
There are three major types of depository institutions in the United States: commercial banks, thrifts (which include savings and loan associations and savings banks), and credit unions.
Answer for screen readers
There are three major types of depository institutions in the United States: commercial banks, thrifts (which include savings and loan associations and savings banks), and credit unions.
More Information
Depository institutions play a crucial role in providing fundamental banking services to individuals, businesses, and governments by accepting deposits and making loans.
Tips
Confusing depository institutions with non-depository financial institutions like investment banks.
Sources
- The web page with info on - Example Source - portal.ct.gov
- Types of Banks in the U.S. | One Percent for America - onepercentforamerica.org
- Bank - Wikipedia - en.wikipedia.org
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