Question

Explain the different types of financial intuitions? Please provide an example of each

Answer 1

Answer)
The different types of financial institutions are:
a) Central Banks. an example would be Federal Reserve Bank of the US
b) Retail and Commercial Banks. Example Bank of America
c) Internet Banks. Example Axos Bank
d) Credit Unions. Example Navy Federal Credit Union
e) Savings and Loan Associations Example Mountaintop Savings Bank
f) Investment Banks and Companies Example Goldman Sachs
g) Brokerage Firms Example Charles Schwab
h) Insurance Companies Example 21st Century Insurance
i) Mortgage Companies Example Wells Fargo Mortgage