The wealth of crowdsourced, peer advice allows us to make an informed decision when we decide how to spend our money. But, why don't we practice this ritual when picking a bank, a credit card or any other financial product?
In a world where everything has transitioned to be modern, fast, and efficient, more and more banks are downsizing their branch networks, raising the question: Do bank branches still matter?
Today, there is extra urgency behind the need for a shift toward innovation: many new financial services competitors that are small, nimble and on the cutting edge of technology entered the market right after the financial crisis, when established firms were busy licking their wounds. The old guard is going to need to stay on top of innovation just to keep up with the new guard.
Young families, military families and low-income people who may not make six digits but have good credit are, for all practical purposes, blocked from owning a home by requirements for high credit scores and down-payments.
Thirty years ago, what Apple announced it was going to do was democratize computing. Back then, the idea of a computer that was personalized to people -- with a mouse and graphics and a warm experience for the user -- was revolutionary.
About two years ago, I visited Hong Kong for the very first time and could not believe my eyes. Traveling from the dated, fraying JFK airport in NYC to the shining, efficient airport in Hong Kong, my world view was immediately changed: It was the U.S. that was a third-world country, and Asia was vivid.
Wall Street's trumpets blasted in full force from the top of America's largest bank today to declare: all we care about is making money, even if that means breaking the law at times.
On 24 September 2013, Syracuse University's "TRAC Reports," which is the only organization that tabulates the federal government's prosecutions of eli...
While there are literally hundreds of artists and singers deserving of international attention, here are ten that you'll most likely hear from in the new year.
I worked for 30 years as a cardiologist in Richmond, and I have always seen the city's problems through the health lens. What can a focus on health teach us about Richmond's foreclosure crisis? What is the impact on the health of families and neighborhoods?
After muddling through this period, The Wolf of Wall Street serves as a reminder to the bad old days where the stereotypical "white male" in finance is solely driven by money and excess, not the best interests of the client.
Congress and the president have decided to craft budgets that lead to tens of millions of people being unemployed or underemployed. High levels of unemployment put downward pressure on workers' wages, especially those in the bottom third of the labor force. This means we have a federal budget that limits growth and employment in a way that redistributes income upwards. So, inequality didn't just happen; it was the result of government policy. That is why people who actually want to see inequality reduced, and for poor and middle class to share in the benefits from growth, are not likely to be very happy about President Obama's speech on the topic. His comment about the government being a bystander ignores the real source of the problem. Therefore it is not likely that he will come up with much by way of real solutions.
Third Way has a legal right to keep their donations secret, and we have a legal right to give Third Way zero credibility until they disclose their donations.
Let us not forget that profit is impact, or should be. Profit is an important measure of business viability and financial stability. Profits generated mean growth, employment, taxes and dividends.
I expected one of those, "We're sorry" replies from the CFPB. Instead, a mere four days after I had filed my complaint, I received a written apology from the bank, a waiver of all penalty fees and the promise to "escalate this matter for further policy review."
And after that, I respectfully would ask the big banks on Wall Street please to explain to us what they've done to prevent a replay of 2008, when they wiped out one-fifth of the entire wealth of this nation, accumulated over two centuries, in only 18 months.