This basic intermediation structure is overlaid by other institutions. Financial markets enable direct transfer of funds from savers to borrowers, bypassing banks to that extent. Entities like insurance companies, pension funds and asset management companies assume varied degrees of importance in financial markets as alternatives to intermediation by banks. In all these cases, funds eventually are held in a bank account. 4.
14 Native households also face barriers to homeownership, which is a vital tool to build wealth. According to the 2019 Survey of Consumer Finances, the median homeowner has 40 times the household wealth of a renter.15 While 75 percent of Native households reported a strong desire to own their home, Native American communities face significant impediments.