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Homework answers / question archive / Financial Institutions — How do they impact consumers? Directions: In your groups, read the following scenarios
Financial Institutions — How do they impact consumers? Directions: In your groups, read the following scenarios. On a separate sheet of paper, answer the questions to the best of your groups' ability. Client 1: Rob is only paid once a month at his new job and ?nds that managing his money is becoming dif?cult. By the end of the month, often times he is close to over—drafting his checking account. He would like to become more ?nancially responsible and open a savings account along with his checking account. Which bank/ credit union / online bank would work best for Rob's needs? Explain. Client 2: Kristen is looking to make a short term investment through depositing $1,500 into a Certi?cate of Deposit. In 3 years time, which bank/ credit union / online bank would Kristen need to invest in to get the most out of her deposit? Explain.
