There are several kinds of banks in the United States:

  • National associations, such as:
    • JPMorgan Chase
    • Bank of America
    • Citibank
    • TD Bank
  • Federal savings banks, such as:
    • USAA
    • Synchrony Bank
    • Carver Federal Savings Bank
  • State-chartered banks, such as:
    • SunTrust Bank (chartered in Georgia)
    • M&T Bank (chartered in New York)
    • New York Community Bank

It should be noted that most larger banks are national associations, and it's my understanding that each type of bank is subject to somewhat different regulations. However, I don't quite understand how these differences might impose limitations on or otherwise impact the services offered by the bank.

From a consumer standpoint, how do these banks differ? How might the bank charter affect the services I can get from a bank? Is it something I should be concerned about when selecting a bank?

(Credit unions are beyond the scope of this question.)

  • As definitions for all three terms can easily be searched for on the web, you should perhaps indicate (a) that you have done so, and (b) what it is about those definitions that you need clarity on. Otherwise, you run the risk of downvotes/closure for not putting enough research. – TripeHound Apr 16 '18 at 6:44
  • @TripeHound: clarified the question. – bwDraco Apr 16 '18 at 6:53

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