The term "bank" generally includes all of the following institutions except ________.

Question

Quizplus · Accepted Answer

The term "bank" generally includes chartered banks, credit unions, trust and mortgage loan companies, but not finance companies. Finance companies operate differently than banks, as they do not accept deposits from customers and do not offer traditional banking services such as checking accounts or loans. Instead, they offer financing for specific purchases or types of customers (such as those with poor credit).

The Term "Bank" Generally Includes All of the Following Institutions