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What is the definition and function of financial institutions?

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Answer:

A financial institution accepts deposits from consumers, and "places the money in a variety of investment vehicles," such as loans and mutual funds, to benefit both the consumers and the institution. Banks, mortgage companies, and mutual-fund companies are examples of financial institutions.¹

First answer by ID1116232055. Last edit by ID1116232055. Question popularity: 4 [recommend question].

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1. Definition: Financial Institution

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Relevant answers:

Definition of financial institution?
The term 'financial institution' means an institution (public or private) that collects funds (from the public or other institutions) and invests them in financial assets
What are the functions provided be financial institution?
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What is financial institutions?
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What is a financial institution?
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