(Solved): 1. The structure of the financial services industry in the UnitedStates What are the differences be ...

1. The structure of the financial services industry in the UnitedStates What are the differences between depository and non-depository institutions? The financial services industry in the United States has undergone major changes over the years. For many years, it consisted of two major types of business organizations: depository institutions and non-depository institutions. However, today this distinction has become much less clear-cut. Now, both groups of institutions may offer many of the same financial products and financial services. How do depository institutions differ from non-depository institutions? Depository institutions are required to and , although the general terms used to describe these financial products may vary across the various types of institutions. Non-depository institutions, in contrast, accept cash contributions from their customers, but the cash inflows are not called ; instead, they're called shares or premiums. Depository institutions include: Commercial banks, savings banks, savings and loan associations (thrifts), and credit unions Mutual funds, insurance companies, brokerage firms, and financial services companies What are the different forms and products of non-depository institutions? If you wanted to purchase investment advice, as well as stocks, bonds, and other investments, which type of non-depository institution should you contact? A stock brokerage firm An insurance company Just as depository institutions differ from non-depository institutions, there are also differences between the structure and activities of, and the financial products and services provided by, various depository institutions. Which of the following statements are true, if any. Check all that apply. Compared with commercial banks and savings banks, credit unions tend to pay the highest interest rates on their deposits. Not all savings banks are mutual savings banks. Some exhibit a mutual structure, while others are organized as corporations. Members of both credit unions and mutual savings banks share a common bond or affiliation.