Question: The term bank has been applied broadly over the years to include a diverse set of financial-service institutions, which offer different financial-service packages. Identify as

The term bank has been applied broadly over the years to include a diverse set of financial-service institutions, which offer different financial-service packages. Identify as many of the different kinds of banks as you can. How do the banks you have identified compare to the largest banking group of all—the commercial banks? Why do you think so many different financial firms have been called banks? How might this confusion in terminology affect financial-service customers?

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