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Goal of This Chapter: In this chapter you will learn about the many roles financial service providers play in the economy today. You will examine how and why the banking industry and the financial services marketplace as a whole is rapidly
changing, becoming new and different as we move forward into the future. You will also learn about new and old services offered to the public.
Key Topics in This Chapter
 Powerful Forces Reshaping the Industry  What is a Bank?
 The Financial System and Competing Financial-Service Institutions  Old and New Services Offered to the Public
 Key Trends Affecting All Financial-Service Firms  Appendix: Career Opportunities in Financial Services
Chapter Outline
I. Introduction: Powerful Forces Reshaping the Industry II. What Is a Bank?
A. Defined by the Functions It Serves and the Roles It Play: B. Banks and their Principal Competitors C. Legal Basis of a Bank D. Defined by the Government Agency That Insures Its Deposits III.The Financial System and Competing Financial-Service Institutions
A. Savings Associations B. Credit Unions
C. Money Market Funds D. Mutual Funds E. Hedge Funds
F. Security Brokers and Dealers G. Investment Bankers H. Finance Companies
I. Financial Holding Companies
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