A "bank" is a financial institution that receives deposits and channels money into lending activities (such as consumer loans and mortgages). Generally speaking, a bank may be formed under state law (a state bank), federal law (a national bank of) or the law of a foreign country. Examples of national banks include Bank of America, Citibank and Wells Fargo. While banks, credit unions, and savings and loan associations are similar in some ways, they often operate under different federal and state laws and are regulated by different federal and state agencies.