A financial intermediary that obtains funds from checking and savings deposits, and then loans these funds to borrowers is known as a depository institution.

Name: A financial intermediary that obtains funds from checking and savings deposits, and then loans these funds to borrowers is known as a depository institution.
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Question

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This statement is true. Depository institutions such as banks obtain funds from checking and savings deposits and use those funds to make loans to borrowers.

A Financial Intermediary That Obtains Funds from Checking and Savings