The financial institution that traditionally concentrated on long-term such as mortgages, and is sometimes called a thrift, is a(n) commercial bank. credit union. savings and loan association. mutual bank. insurance company. The major different between banks and credit unions is that credit unions are owned and controlled by depositors. banks distribute their profits to depositors. credit unions make large loans to corporations. bank depositors vote for the bank officers. credit unions have higher default rates than banks. has allowed consumers to perform an ever-widening array of financial and banking functions from their personal or work computers. Online banking Automated clearinghouses Mutual funds Credit unions Exchange traded funds In the wake of the financial crisis, what did politicians promise? To fire all CEOS of bailed-out banks To compensate all investors who lost money in the crisis To further reduce regulation of the financial industry To further reduce regulation of the financial industry To develop and pass legislation that will improve regulation of the financial industry To never let another bank fail again Cash, investments, accounts receivable, and inventory are also known as current assets. current liabilities. long-term assets. long-term liabilities. fixed assets