Commercial Bank
A financial institution offering checking accounts, savings accounts, and loans to the public.
Banks are regulated by government agencies for consumer protection and financial stability, which is the legal PESTEL factor behind deposit insurance.
Often confused with
- Credit Union
- A commercial bank is owned by shareholders; a credit union is a cooperative owned by its members.
Taught in
See also
3.1.B.4 · 3.1.C.2 · 3.2.A.3