J.C.Penney,and Sears provided are among leading firms that in the 1980s organized competitors with banks that are known as:

Question

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J.C.Penney and Sears were among the first retail stores to offer financial services to their customers through their own subsidiaries or partnerships with other financial institutions. These subsidiaries were referred to as nonbank financial-service institutions, as they provided services such as credit cards, loans, and insurance, which were traditionally offered by banks. This allowed these retailers to compete with banks and other financial institutions in the 1980s.

JCPenney,and Sears Provided Are Among Leading Firms That in the 1980s