Legal definition of bank
Banking Law Legal Terminology


"Bank" includes commercial banks, savings banks, trust companies, and any person or association of persons, whether incorporated or not, carrying on the business of banking.

U.S. Securities and Exchange Commission is the main bank regulatory agency in the USA, together with the Federal Reserve System and the Federal Deposit Insurance Corporation.

Source: The Arizona Revised Statutes. website
A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses.
Source: Wikipedia - The Free Encyclopedia. website. license
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