An alternative bank that safeguards funds and estates in its care is called a(n)
A) trustee.
B) credit union.
C) trust company.
D) pension fund.
E) Schedule B bank.

Question

Quizplus · Accepted Answer

A trust company is specifically designed to manage and safeguard funds and estates in its care, distinguishing it from traditional banks. Trust companies are typically designated as fiduciaries, meaning that they are legally obligated to act in the best interests of their clients.

An Alternative Bank That Safeguards Funds and Estates in Its