Financial services
Financial services are the economic services provided by the financial industry, which encompasses a wide range of businesses that manage money, including credit unions, banks, credit card companies, insurance companies, accounting companies, consumer finance companies, brokerage firms, investment funds, individual managers, and some government-sponsored enterprises. Financial services companies are present in all economically developed geographic locations and tend to cluster in local, national, regional and international financial centers such as London, New York and Tokyo. government-sponsored enterprises.
History
[change | change source]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 allowed different types of companies operating in the financial services industry to merge. United States at that time.