Final answer:
General-purpose credit cards are issued by banks, savings and loans, and credit unions. They differ from retail credit cards, which are store-specific. All these institutions are part of the financial services industry, offering deposit and loan services.
Step-by-step explanation:
The type of credit card commonly issued by banks, savings and loans (S&Ls), and credit unions is a general-purpose credit card or bank card. Unlike retail credit cards, which are typically tied to a specific store or brand, general-purpose credit cards can be used at a wide variety of merchants and service providers.
Banks, savings and loans, and credit unions all have a relationship in that they provide financial services such as accepting deposits and extending loans. While banks and S&Ls are both regulated by the government and offer similar services, savings and loans traditionally focused more on housing-related loans. Credit unions differ primarily in that they are not-for-profit organizations that serve their members, who are also their owners.
In the past, federal regulations restricted the amount of interest savings institutions could offer on deposits and mandated that they focus their lending in the area of housing. While these restrictions have since changed, these institutions still play a significant role in providing consumer credit, including credit cards.