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Financial institution |
Also found in: Dictionary/thesaurus, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.03 sec. |
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Financial institution An enterprise such as a bank whose primary business and function is to collect money from the public and invest it in financial assets such as stocks and bonds. Financial institution. Any institution that collects money and puts it into assets such as stocks, bonds, bank deposits, or loans is considered a financial institution. There are two types of financial institutions: depository institutions and nondepository institutions. Depository institutions, such as banks and credit unions, pay you interest on your deposits and use the deposits to make loans. Nondepository institutions, such as insurance companies, brokerage firms, and mutual fund companies, sell financial products. Many financial institutions provide both depository and nondepository services. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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50 billion Banco Pactual, a Brazilian financial institution. If a financial institution does not block and report a cross-border ACH transfer and another financial institution does, then it may face civil or even criminal penalties," Salaris said. No legitimate financial institution will ever ask its customers to verify their account information online. |
| Financial Dictionary |
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