A financial institution that accepts deposits, makes loans, and offers checking accounts is
A) an insurance company.
B) the Federal Deposit Insurance Corporation.
C) the Federal Reserve System.
D) a commercial bank.

Question

Quizplus · Accepted Answer

A commercial bank is the financial institution that accepts deposits, makes loans, and offers checking accounts. An insurance company offers insurance policies to individuals and businesses. The Federal Deposit Insurance Corporation provides insurance for deposits in banks. The Federal Reserve System is the central bank of the United States that regulates the monetary policy and supervises financial institutions.

A Financial Institution That Accepts Deposits, Makes Loans, and Offers