Question
For ideological reasons, your friend Jorge wants to only work with a non-depository financial institution for his new startup. Which kind of institution could you safely recommend to him?
commercial bank
credit union
investment bank
savings and loan association
commercial bank
credit union
investment bank
savings and loan association
Answers
GPT-4o mini
For Jorge's preference to work with a non-depository financial institution, you could recommend an **investment bank**.
Investment banks focus on services such as underwriting, facilitating mergers and acquisitions, and providing advisory services, rather than accepting deposits like traditional banks or credit unions. The other options—commercial banks, credit unions, and savings and loan associations—are all depository institutions that accept deposits from customers.
Investment banks focus on services such as underwriting, facilitating mergers and acquisitions, and providing advisory services, rather than accepting deposits like traditional banks or credit unions. The other options—commercial banks, credit unions, and savings and loan associations—are all depository institutions that accept deposits from customers.