A financial holding company is a bank holding company that may engage in an even more extensive array of financial and nonfinancial activities than __________.

Question

Quizplus · Accepted Answer

Traditional bank holding companies are already authorized to engage in a range of financial activities, but financial holding companies have even broader authority to engage in a wider range of financial and nonfinancial activities. Nonbanks and Federal Reserve banks are not relevant to this comparison as they are not holding companies.

A Financial Holding Company Is a Bank Holding Company That