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The Savings Bank market is a segment of the banking industry that focuses on providing savings accounts and other related services to customers. Savings banks are typically smaller than commercial banks, and they often offer higher interest rates on deposits. They also provide services such as debit cards, online banking, and mobile banking. Savings banks are often used by individuals to save for retirement, college tuition, or other long-term goals.
Savings banks are regulated by the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC). These organizations ensure that savings banks are operating in a safe and sound manner.
Some of the companies in the Savings Bank market include Ally Bank, Capital One 360, Discover Bank, Marcus by Goldman Sachs, and Synchrony Bank. Show Less Read more
