A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange. ... Financial institutions can operate at several scales from local community credit unions to international investment banks.
The major categories of financial institutions include central banks, retail and commercial banks, internet banks, credit unions, savings, and loans associations, investment banks, investment companies, brokerage firms, insurance companies, and mortgage companies.
The correct answer is a check cashing company and payday loan company. Further Explanation: These types of companies have high interest rates for the people who use their services.
