Meaning of banking: scope covers deposit-taking, lending, currency exchange and supervised bank-like financial institutions. The legal meaning of banking encompasses accepting deposits, making loans, exchanging or issuing currency, transmitting funds, and related services; ... Summary
Meaning of banking: scope covers deposit-taking, lending, currency exchange and supervised bank-like financial institutions.
The legal meaning of banking encompasses accepting deposits, making loans, exchanging or issuing currency, transmitting funds, and related services; regulatory treatment may include any financial institution substantially engaged in deposit-taking or exercising bank-like fiduciary powers and supervised by state or federal authorities, with receivers or liquidators similarly covered.
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