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A financial holding company usafcl.com/category/depository-institution-holding-company/ is a type of bank holding company (BHC) that offers a range of non-banking financial services. BHCs can engage in non-banking financial activities if they register as an FHC. These activities, which are not permissible for ordinary bank holding companies, include insurance underwriting, securities dealing, merchant banking, underwriting initial public offerings (IPOs), and investment advisory services.