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LSDefine

Simple English definitions for legal terms

financial institution

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A quick definition of financial institution:

A financial institution is a type of company that deals with money-related transactions, like loans, deposits, investments, and currency exchange. Examples of financial institutions include banks, insurance companies, credit unions, and investment firms. Some financial institutions are private, while others are public or international. There are two main types of financial institutions: banking and non-banking. Banking institutions, like commercial banks, handle everyday banking transactions, while non-banking institutions, like investment banks, provide specialized financial services. International financial institutions are important because they help establish rules and provide financial support for economic development. Some well-known international financial institutions include the International Monetary Fund and the World Bank.

A more thorough explanation:

A financial institution is a type of organization that primarily deals with financial and monetary transactions. This includes loans, deposits, investments, currency exchange, and other similar transactions. Examples of financial institutions include:

  • Commercial banks
  • Trust or insurance companies
  • Credit unions
  • Finance companies
  • Securities firms
  • Leasing companies

Financial institutions can be private or public, national or international. They are a major component of the financial services sector. There are two main types of financial institutions:

  • Banking financial institutions: These include commercial banks that deal with loans, deposits, and everyday banking transactions.
  • Non-banking financial institutions: These include investment banks, insurance and leasing companies that provide specialized and technical services.

International financial institutions (IFI) are important on the global stage because they establish a framework for the development of financial and monetary rules and provide financial and technical support for economic development. Examples of IFIs include:

State laws regulate financial institutions.

Overall, financial institutions play a crucial role in the economy by providing financial services to individuals, businesses, and governments.

financial guardian | financial institution fraud

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ParallelAgreeableOrangutan
23:19
I'm intrigued llama
ParallelAgreeableOrangutan
23:21
Holdddddup all that number crunching on your lsd profile is your work? Damn
ParallelAgreeableOrangutan
23:21
I don't visit y'all's profiles enough, clearly
NarrowFaithfulCougar
0:22
@NemoPropheta: Ahh yeah, the Sauna. That's some good Nordic shit. Beats the hot tub hands down. Plus everyone is naked.
llama
1:23
@ParallelAgreeableOrangutan: got that weaponized autism in gear, we out here.
RasheedWallaceFan
12:52
@llama: your cycle confuses me, your stats are good and you applied early but all of those Rs? Is there anything weird about your app?
RasheedWallaceFan
12:53
do you have C&F issues or something?
RasheedWallaceFan
12:55
also ur first choice is kansas but you didnt apply there?
llama
12:55
@RasheedWallaceFan: Hi. Yes, I waited for April LSAT, put almost all apps (which were sent really early) so that basically most of my apps were reviewed In May. Shot myself in the foot for 155 -> 161 lmao. Would not recommend 10/10
llama
12:57
@RasheedWallaceFan: unironically, KSLS was my top choice, however by April LSAT their app had closed. It was like waiting to date ur dream partner, but waiting until you graduate uni, then by the time u graduate uni, your soul mate is already married with 2.4 kids and 1.6 dogs. Heartbreak.exe fr fr
NemoPropheta
12:58
are you R&Ring?
llama
13:00
No, I think what I will do is flip a coin: heds NKU, tails NEL|B what u guys think bout dat. Then once 1L - if good at LS, try to transfer, if bad at LS or one of my grandiose ideas/inventions are viable, drop out and pursue.
RasheedWallaceFan
13:10
oh so you submitted the apps with a lower lsat and then retook
RasheedWallaceFan
13:10
got it
Bettercaulsaul
13:33
Most schools will hold your application for the next test score to be released into your account as well. I was notified by an admissions director that if a decision is processed they will not retroactively go back for the new score even if higher
ParallelAgreeableOrangutan
13:34
I vote NEL-Boston so we can be friends :D
ParallelAgreeableOrangutan
13:34
But it says you withdrew?? :(
ParallelAgreeableOrangutan
13:41
@Bettercaulsaul: in my experience, there is often an option on the application for you to choose whether you'd like them to review your application as-is ASAP or hold it until your new score is released. but it probably varies by school—I just remember seeing that option on at least a few app forms
llama
2:21
While I am unsure of what option you are referring to, I personally just emailed each school and asked for them to hold my app pending my lsat score release.
llama
2:22
Sorry WNE = Western New England not NEL|B
LawCarrot
14:50
Hey guys is anyone online rn
LawCarrot
14:51
I need adviceee
llama
15:48
shooooot
Mitchthemeanguy
17:45
hey y'all so im gonna be honest im completely new to all this, i kinda bullshitted and took the LSAT and i have no clue what my odds are of getting into schools. 163 LSAT, 3.17 GPA, and a double major in undergrad i may write about in an addendum
InnateMatureRhino
17:50
Based on the list I see you made on your profile, you will need to make significant LSAT improvement for those schools to be contenders. Your primary focus should probably be working to get your LSAT practice tests up to a number you are happy with before you retest, and then test until you get a score you like. Don't rush an application cycle or apply late since those will hurt your odds of getting into your school as a splitter. Good luck!
Mitchthemeanguy
17:51
oh that was literally just random stuff i dont know how this works
Mitchthemeanguy
17:51
thank you so much!
Mitchthemeanguy
17:52
im retaking in 4 days, and maybe again in august, and i was gonna apply to see what i got, and if i didnt like it i was going to wait till next cycle and work on improving my GPA
PremiumFrequentCrane
21:33
@InnateMatureRhino: wow rude
RitzySkillfulLeopard
23:43
yall need help fr
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