Bank - sustany/dvg GitHub Wiki

According to the U.S Code a bank or trust company is incorporated and engaged in the business of financial transactions under the laws of the United States or of any State. A bank is a substantial part of the financial establishment and a quasi public institution�licensed to�receive deposits, make loans and currency exchange, issue money, transmit funds or exercise fiduciary powers similar to those permitted to national�banks�under the authority of the Comptroller of the Currency. There are several types of banks including retail banks, commercial or corporate banks, and investment banks. In Pue v.�Hood,�Comr. of Banks a bank is defined as �wholly a creature of statute doing business by legislative grace and the right to carry on a banking business through the agency of a corporation is a �franchise� which is dependent on a grant of corporate powers by the state.�

A �bank� also means a domestic building or office in which such an establishment conducts transactions.