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This has very likely tax reasons. Many major companies have their own banks and even insurances. An insurance is an easily available tax shelter.
by tiatia 10y ago
This has very likely tax reasons.
Many major companies have their own banks and even insurances. An insurance is an easily available tax shelter.
- nickpsecurity 10y agoI'm sure there's tax benefits but wouldn't it also reduce fees and increase flexibility due to founding company's control of bank?