Financial institutions that accept deposits (that are insured up to a maximum level) from individuals and provide loans are called
A) finance companies.
B) depository institutions.
C) investment companies.
D) nondepository institutions.

Question

Quizplus · Accepted Answer

Depository institutions are financial entities such as banks and credit unions that accept deposits from individuals and provide loans. These deposits are often insured up to a certain limit, providing a level of security to depositors.

Financial Institutions That Accept Deposits (That Are Insured Up to a Maximum