What term refers to financial entities outside of the formal banking structure that engage in lending and credit-issuing activities?
A)credit unions
B)shadow banks
C)quasi-banks
D)lending houses

Question

Quizplus · Accepted Answer

Shadow banks refer to financial entities that operate outside of the traditional banking system and engage in lending and other financial activities similar to those of conventional banks, but without the same regulatory oversight.

What Term Refers to Financial Entities Outside of the Formal