Common types of financial institutions include banks, credit unions, investment banks, brokerage firms, insurance companies, and asset management firms. Banks and credit unions provide banking services such as checking and savings accounts, loans, mortgages, and credit cards. Investment banks and brokerage firms help individuals and businesses trade stocks, bonds, and other securities. Insurance companies offer various types of insurance coverage to protect against risks such as accidents, illness, and property damage. Asset management firms manage investment portfolios for individuals and institutional investors.

Financial institutions are subject to regulation by governmental authorities to ensure stability and protect consumers. In many countries, there are specific regulatory bodies that oversee the operations of financial institutions and enforce laws related to financial services. Examples include the Federal Reserve in the United States, the Financial Conduct Authority in the United Kingdom, and the European Central Bank in the Eurozone.

Overall, financial institutions play a vital role in the global economy by providing essential financial services and contributing to economic growth and stability.