Which type of financial institution has seen the largest drop in their share of U.S. financial assets?

Question

Quizplus · Accepted Answer

Depository institutions, which include commercial banks and credit unions, have seen the largest drop in their share of U.S. financial assets. This is partly due to the rise of non-bank financial institutions, such as mutual funds and finance companies, which have become increasingly popular with consumers seeking alternative investment options. Additionally, industry consolidation and the regulatory environment have also contributed to the decline in depository institutions' market share.

Which Type of Financial Institution Has Seen the Largest Drop