| A | B |
|---|
| depository | Earns money to finance their business by accepting deposits from customers |
| commercial banks | offer many different services, including savings, loans, and checking accounts |
| savings and loan associations | traditionally specialize in savings and home loans, but now are very similar to commercial banks |
| mutual savings banks | owned by the depositors and specialize in savings and home loans |
| credit unions | not-for profit, serve their members only, and are owned by their depositors |
| non-depository | earns money to finance their business by selling specific services such as policies, investments, and loans |
| life insurance company | financial intermediary (the insurer) that shares the financial risk of untimely death of its policy holder (the insured). |
| investment company | a corporation or trust engaged in the business of investing the pooled capital of shareholders in the financial instruments of other companies |
| consumer finance company | a financial institution that specializes in providing loans directly to consumers who are unable to secure bank loans; generally charges higher interest rates than a bank |
| mortgage company | the originator of a mortgage; they market themselves to potential borrowers and seek funding from one of several client financial institutions that provide the capital for the mortgage itself |
| check-cashing outlet | as a way to cash checks for low- and moderate-income families who don't have a bank account or can't open one because of credit problems |
| pawnshops | an individual or business that offers secured loans to people, with items of personal property used as collateral |
| blank endorsement | Consists of endorser’s name only |
| restrictive endorsement | Limits use of the check so it can be deposited only to endorser’s account. |
| special endorsement | Transfers payment of a check to someone else |
| endorsement | allows the payee to cash the check, deposit the check or transfer payment of the check to someone else |
| bank reconciliation | the process of comparing and matching figures from the accounting records against those shown on a bank statement |
| outstanding check | a check that that you wrote, but has not yet hit your account |
| federal reserve system | a centralized banking system |
| members of the Fed | All national banks are required to be members |
| twelve districts | make up the Federal Reserve |
| supervision of banks | one of eight services of the Fed |
