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In Business / College | 2025-07-03

Are banks and credit unions the only types of financial institutions?

True
False

Asked by ashleygentry88

Answer (2)

The statement is false; banks and credit unions are not the only types of financial institutions. Other types include investment banks, insurance companies, brokerage firms, mortgage companies, and credit card companies, all of which serve different roles in the financial system. Understanding the variety of these institutions helps clarify the diverse financial services available in the economy.
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Answered by Anonymous | 2025-07-04

The statement is false because banks and credit unions are not the only types of financial institutions. Other types include investment banks, insurance companies, brokerage firms, and mortgage companies. Each serves different roles in the financial ecosystem. ;

Answered by GinnyAnswer | 2025-07-04

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