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

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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.

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WEB DEVELOPER - LEADING FINANCIAL SERVICES ORG - VB.NET - ŁŁŁ: .Net : Hertfordshire 38000 - 40000 per annum http://bit.ly/5ksZqM #job
ithertsperm (j ithertsperm) Thu, 10 Dec 2009 17:16:39 -0000
WEB DEVELOPER - LEADING FINANCIAL SERVICES ORG - VB.NET - ŁŁŁ: .Net : Hertfordshire 38000 - 40000 per annum http://bit.ly/5ksZqM #job
Cape Coral's financial services director steps down: Mark Mason, financial services director with the city of Cape ... http://bit.ly/8xm1xj
Agent1 (Colleen Pearsall) Thu, 10 Dec 2009 17:12:06 -0000
Cape Coral's financial services director steps down: Mark Mason, financial services director with the city of Cape ... http://bit.ly/8xm1xj
Rhyne Financial Holds Grand ‘Re-Opening’: By Jason SaineLINCOLNTON - Rhyne Financial, a financial services compan... http://bit.ly/5HOm7i
lincolntribune (Lincoln Tribune) Thu, 10 Dec 2009 17:10:27 -0000
Rhyne Financial Holds Grand ‘Re-Opening’: By Jason SaineLINCOLNTON - Rhyne Financial, a financial services compan... http://bit.ly/5HOm7i
Applicants are from insurance, banking, financial services, construction, construction material, management consulting, media & journalism
idsnirem (IDS NIREM) Thu, 10 Dec 2009 17:10:05 -0000
Applicants are from insurance, banking, financial services, construction, construction material, management consulting, media & journalism
House has voted 235-177 to let HR 4173, the Swiss Army knife financial services bill, reach floor. http://ow.ly/KFn8 ^AB
NatUndLife (Allison Bell) Thu, 10 Dec 2009 17:09:04 -0000
House has voted 235-177 to let HR 4173, the Swiss Army knife financial services bill, reach floor. http://ow.ly/KFn8 ^AB
@jhackshit lmao how thoughtful of you? But I am pretty sure she chose that profession for herself hah talk to saic's financial services
pandasrreal (pandasrreal) Thu, 10 Dec 2009 16:59:22 -0000
@jhackshit lmao how thoughtful of you? But I am pretty sure she chose that profession for herself hah talk to saic's financial services

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