21-2 Banks increasingly have been susceptible to nonbank competition on both sides of the balance sheet.

Question

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Nonbank competitors, such as fintech companies, have been able to offer products and services that were traditionally only offered by banks, such as loans and payments. Additionally, nonbank competitors in the investment and wealth management space have also grown in popularity, providing alternative options for consumers.

21-2 Banks Increasingly Have Been Susceptible to Nonbank Competition on Both