DrLIFE4201 DrLIFE4201
  • 19-11-2018
  • Mathematics
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A "thrift" is another name for a commercial bank. True or False

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jcherry99
jcherry99 jcherry99
  • 19-11-2018

A thrift is a kind of bank that arranges mortgages (mostly for home ownership) and sets up accounts to receive deposits.

The statement is actually false. The difference is in who they can borrow from and whether or not they are set up for profit. Thrifts are usually non profit.

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