The complex U.S.financial system fuels our economy by storing money, fostering investment opportunities, and making loans. The system includes banking institutions, nonbanking financial institutions, such as finance companies, and processes that provide for the electronic transfer of funds throughout the world. Financial institutions accept money deposits from and make loans to individual consumers and businesses as well as support these processes. New hybrid forms of banking institutions that perform multiple functions have emerged over the past two decades. Both banking and non-banking institutions work together to frame the financial system. Review the statements and scenarios listed. Place each selection into the column to denote which business formation is being described. FINANCIAL INSTITUTION CHARACTERISTICS Automated Expanded services since repeal of Glass-Steagall Act Clearing House (ACH) Owned by members Pension Fund Insures individual bank accounts Commercial Bank Oversees the American financial system and financial institutions Federal Reserve k & Drag Surved Help Save MUITO Expanded services since Tepeal of Glass-Steagall Act Clearing House (ACH) Pension Fund Owned by members Commercial Bank Insures individual bank accounts Oversees the American financial system and financial institutions Federal Reserve Insurance Company Magnetic computer tap technology that transfers bank deposits Provide 24-hour banking; accept deposits and dispense cash Federal Deposit Insurance Company (FDIC) Managed pools of individual funds for retirement income Credit Union Protect business and individuals against loss Automated Teller Machine (ATM) Reset