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Financial services is a term used to refer to the services provided by the finance industry. Financial services is also the term used to describe organizations that deal with the management of money. Banks, investment banks, insurance companies, credit card companies and stock brokerages, are examples of the types of firms comprising the industry, which provides a variety of money and investment related services. Financial services is the largest industry (or industry category) in the world, in terms of earnings; as of 2004, the industry represents 20% of the market capitalization of the S&P 500.*
History of financial services
United States: Gramm-Leach-Bliley Act
The term financial services became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act of the late 1990s, which enabled different types of companies in the US financial services industry to merge. Critics of this act say the term financial services attempts to make the unison of these operations sound natural, ignoring the history of problems that have arisen from combining them, such as conflicts of interest and monopolization. Others, noting that many of the restrictions abolished by the Gramm-Leach-Bliley Act had never existed in other countries or had been abolished earlier than in the US, say the term financial services is a natural one, in long term use, which means nothing more than its constituent words.In the USA almost every company now which previously described themselves as a bank, insurance company, or brokerage house, now describes themselves in some way as a financial services institution. Allstate Insurance, for example, now provides CDs and investment brokerage services. Bank of America offers full featured brokerage products, while E*TRADE has expanded into offering bank accounts and loans. Companies usually have two distinct approaches to this new type of business. One approach would be a bank which simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the US, e.g., in Japan, non-financial services companies are permitted within the holding company. In this scenario, each company still looks independent, and has its own customers, etc. This is essentially the style of Citigroup and JP Morgan Chase.
More on [ Financial services ]
Financial Services :: Business and Economy
Business And Leadership: The only way is up - Marketing: Hardest hit are construction and financial services, a.. http://bit.ly/1zSdu5
eloccapital (Wm Cole Smith) Tue, 27 Oct 2009 20:50:01 -0000
Business And Leadership: The only way is up - Marketing: Hardest hit are construction and financial services, a.. http://bit.ly/1zSdu5
#Aerotek financial analyst - boston, ma - Aerotek Professional Services - Boston http://bit.ly/1KIawE
AerotekFinance (Aerotek Finance Jobs) Tue, 27 Oct 2009 20:46:30 -0000
#Aerotek financial analyst - boston, ma - Aerotek Professional Services - Boston http://bit.ly/1KIawE
A&B sells Guardian Tower to Japanese financial services company: Alexander & Baldwin Inc. has sold the 18-story.. http://bit.ly/CbP17
honadvlocal (HonAdv Local) Tue, 27 Oct 2009 20:41:44 -0000
A&B sells Guardian Tower to Japanese financial services company: Alexander & Baldwin Inc. has sold the 18-story.. http://bit.ly/CbP17
A&B sells Guardian Tower to Japanese financial services company: Alexander & Baldwin Inc. has sold the 18-story.. http://bit.ly/CbP17
hawaiinewsnow (Hawaii News Now) Tue, 27 Oct 2009 20:39:41 -0000
A&B sells Guardian Tower to Japanese financial services company: Alexander & Baldwin Inc. has sold the 18-story.. http://bit.ly/CbP17
RT @mix_market: Great report from @CGDev on how to expand access to financial services: http://bit.ly/18x1HN #microfinance
CFI_ACCION (CFI at ACCION) Tue, 27 Oct 2009 20:36:08 -0000
RT @mix_market: Great report from @CGDev on how to expand access to financial services: http://bit.ly/18x1HN #microfinance
EU breaks up ING bank - Seems like an approach to consider for US financial services Too Big To Fail group @ Fin Times http://bit.ly/3vgooL
GetResults (John Reddish) Tue, 27 Oct 2009 20:32:40 -0000
EU breaks up ING bank - Seems like an approach to consider for US financial services Too Big To Fail group @ Fin Times http://bit.ly/3vgooL
Anelik Bank Co. Ltd. - Includes an annual report, history, information about branches, services, tariffs, lending programs and a list of the corresponding banks.
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Meta Description: [ Converse - Bank's Official Website ]
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