Business / Taxes / Financial Institution: Any institution that collects money and puts it into assets such as stocks, bonds, bank deposits, or loans is considered a financial institution. There are two types of financial institutions: Depository institutions and nondepository institutions. Depository institutions, such as banks and credit unions, pay you interest on your deposits and use the deposits to make loans. Nondepository institutions, such as insurance companies, brokerage firms, and mutual fund companies, sell financial products. Many financial institutions provide both depository and nondepository services.
Institution Noun Synonyms: custom, tradition, habit, practice, routine, rule, order (of the day), code (of practice), doctrine, dogma
Institution Verb Synonyms: establishing, establishment, forming, formation, origination, founding, foundation, installation, introduction, creation, organization
Business / Real Estate / Housing Financial Discrimination Act Of 1977 (Holden Act): The Act prohibits financial institutions (banks, savings & loans, or other financial institutions, including mortgage loan brokers, mortgage bankers and public agencies) from engaging in discriminator MORE
Business / Finance / Financial Intermediaries: Legislation that established the Office of Thrift Supervision, which was created in the wake of the savings and loan crisis of the late 1980s. MORE