Banks and other financial institutions provide a range of services, from providing accounts to granting loans. They are responsible for keeping our money safe and help us manage our financial resources. They also provide services such as individual retirement accounts, certificates of deposit, currency exchange, and safe deposit boxes. These institutions are regulated by the government and individual states.
Banks receive deposits from individuals and businesses, and lend out a portion of that money. In return, the bank earns interest from these loans. This process keeps the economy moving by keeping money in circulation. Banks offer a variety of financial services, including car loans, credit cards, mortgages, and business loans.
The 2008 financial crisis has put the spotlight on excessive risk-taking by financial institutions. However, only 13% of Americans think that regulators should ban these risky financial products. Moreover, most Americans do not think that regulators help banks make better business decisions. The public is also concerned about alleged corruption within financial institutions, with nearly half believing that corruption on Wall Street is widespread.
Polling shows that most Americans disapprove of the “Too Big to Fail” model. However, this view is shared by partisans, as it’s more common among Democratic voters than among Republicans. Moreover, Americans are divided on the issue of bailing out a bank.