Many insurance companies have organized as a _____________ in order to own a depository institution and bypass prohibitions in the Glass-Steagall Act and the Bank Holding Company Act.

Question

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A unitary thrift holding company is a form of financial institution that combines a depository institution (such as a savings bank or savings and loan association) with non-banking financial entities (such as an insurance company) under a single holding company. This organizational structure allows insurance companies to own a depository institution and engage in banking activities, such as lending and accepting deposits, while bypassing restrictions in the Glass-Steagall Act and the Bank Holding Company Act.

Many Insurance Companies Have Organized as a _____________ in Order