Which of these is a nonbank institution?
A) brokerage firm
B) savings institution
C) savings and loan
D) credit union
E) mutual savings bank

Question

Quizplus · Accepted Answer

Brokerage firms are considered nonbank institutions because they do not accept deposits or offer traditional banking services like loans in the manner that banks do. Instead, they primarily deal with the buying and selling of securities for clients.

Which of These Is a Nonbank Institution