Initially, banks were known to be in the business of making loans and gathering deposits. They were held in high esteem in the eyes of common man as well as the federal government. Years before the economic meltdown that occurred in 2008, bankers exchanged their slow but steady business in order to obtain financial gains and trading profits at a faster rate. But, with the changing economy, political policies, federal regulations, and banking regulations in the United States, today you find that banks are now in the business of making trades and collecting fees.
Traditional banking plays a vital role in the nation’s economy. Banking used to make the society wealthier over time by collecting idle cash and lending it to borrowers who can engage it in productive work. Though this is risky business plan, considering the smaller foundation of bank capital used to support an enormous structure of deposits … Read More