Generally, left-wing politicians and banks are not on the same side. At least that’s the case in the United States, where the vast majority of our elected officials are unable to think independently, but simply toe the party line.
Read MoreThere are myriad reasons given as to why the banking industry lags behind in tech innovation and can’t seem to hire top tech workers. Some say it’s because they lack a “start-up culture.” Regulatory constraints are also frequently cited, as well as the general risk-averse nature of banks.
Read MoreWhy can’t banks innovate like start-ups? It’s a question that’s been asked a thousand times and has many answers. It’s certainly true that financial firms face a more stringent regulatory environment than most other industries. And they tend to have a more conservative nature than other businesses that tend to take fewer risks.
Read MoreDirect banks — online-only banks that typically pay much higher interest rates on various accounts — have seen a rise in popularity in recent years. Without being burdened by the high operating costs of maintaining a traditional branch network, these banks generally offer robust digital services, as well as generally much more attractive rates on everything from savings accounts to CDs. But are there also downsides to their digital-centric approach?
Read MoreThe minimum wage — and what it should or shouldn’t be — continues to be a topic of passionate debate in America. And while there are reasonable economic arguments on both sides as to how, and to what extent, government should get involved in setting minimum wage rates, some businesses have taken action of their own volition.
Read MoreBank stocks are one of the safer investments you can make, at least according to noted bank stockholder Warren Buffet. Buffet has long been known as a fan of investing in banks; his holding company, Berkshire Hathaway, has long held a large position in Bank of America, and last year snapped up a significant amount of shares in JPMorgan Chase. (Of course, some of his bank boosterism in the past left him with a bit of egg on his face.)
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
