Ironically, even though finance companies and commercial banks are often direct competitors, many banks own finance companies.

Name: Ironically, even though finance companies and commercial banks are often direct competitors, many banks own finance companies.
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Question

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Many banks own finance companies as a way to diversify their services and reach customers who may not qualify for traditional bank loans, thus allowing them to compete in different segments of the financial market.

Ironically, Even Though Finance Companies and Commercial Banks Are Often