Types of banks- Micah  Rodriguez

1. Central Banks

1.1. lend money when commercial banks are not able to, regulate banks, and control the money supply

1.2. Ex: Federal Reserve System

2. Retail Banks

2.1. provides services for consumers,such as deposit accounts,mortgage,auto,and personal loans as well as credit cards

2.2. Ex: Bank of America

3. Investment Banks

3.1. helps companies prepare to become publicly traded companies and otherwise made profit from the stock market

3.2. Ex: Goldman Sachs

4. Interstate Banks

4.1. banks that branch across a state or a few states in the same the same region

4.2. Ex: First Interstate Bank

5. Internet Banks

5.1. have no physical location, can do the same as a retail bank but it’s all online.

5.2. Ex: Ally Bank

6. Commercial Banks

6.1. focuses on business customers, providing bank accounts along with specialized services as foreign exchange,investment services, and capital loans.

6.2. Ex: JP Morgan Chase

7. Money Center Banks

7.1. large, often international banks whose primary customers are businesses, other banks, and governments.

7.2. Ex: Wells Fargo

8. National Bank

8.1. banks that have offices across the country, ex. Bank of America and Wells Fargo. Members of the Federal Reserve

8.2. Ex;Citigroup