Financial services are a vital part of our economy and play an important role in enabling people to manage their money, save for the future, and meet financial goals. There are many different types of institutions that provide these services, from banks and credit unions to investment agencies and stock market brokers. Almost every business and individual uses these services, and the practices and regulations that financial services companies adopt impact not only their own operations but also those of their customers.

Financial service providers offer banking services such as deposit-taking, lending of all kinds (including mortgage loans), payment and money transmission, securities trading, financial leasing, and asset management. They also provide credit reference and analysis, investment and portfolio research and advice, and advisory and intermediation services (including debt and equity underwriting).

Insurance is another important aspect of the financial industry. It is a safety net that covers costs for unforeseen events, like death or property loss. Some examples of insurance include life, auto, home, and renters’ insurance. There are many different types of insurance companies, some of which are for-profit businesses and others are nonprofit organizations.

There are also a number of governmental and regulatory bodies that oversee different financial services institutions, as well as impose laws and regulations to protect consumers. Some of these include the Financial Industry Regulatory Authority and the Office of the Comptroller of the Currency.