Financial Institution
Any public or private bank, credit union, or savings and loan, subject to national and state banking laws, and capable of both accepting deposits and making loans. These institutions collect funds from the public or other institutions, and invest them in financial assets.
Related Terms
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Politically Exposed Persons (PEP)
Politically Exposed Persons: Individuals, or their relatives, who are prominent public functionaries.
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BIS Denied Person list
The Bureau of Industry and Security (BIS) of the U.S. Department of Commerce is responsible for the regulation of exports for national security, foreign policy, and nonproliferation reasons, as well as the enforcement of those...
