The United States still has a heavily paper-based retail payment system when compared with many other developed economies, but the shift to electronic payments has been bigger and more decisive than commonly perceived. For the first time ever, check use declined in the mid-1990s, and among...

Internet banking is receiving great attention in the banking industry and the regulatory community. As with other areas of e-commerce, discussions about Internet banking often proceed without reference to the actual state of market developments. This paper describes the current state of Internet...

Because there was a 25 percent reduction in the number of banks between 1980 and 1993, the popular impression has been one of a "shrinking" banking industry. Daniel Nolle challenges this view by dissecting the complexity of banking consolidation, particularly given the radical structural changes...

Well-functioning financial systems promote economic growth by channeling funds from those who save to those who invest in the productive capacity of economies. What are the main features of a well functioning system? Are well developed capital markets essential to the process? Or are commercial...

Purpose – The Dodd-Frank Act of 2010 is the keystone policy response directed at reforming US financial system activities and oversight in the wake of the 2007-2009 financial crisis. The USA also has financial system reform policy commitments in the international arena, including in particular...

The Dodd-Frank Act of 2010 is the keystone policy response directed at reforming U.S. financial system activities and oversight in the wake of the 2007-2009 financial crisis. The United States also has financial system reform policy commitments in the international arena, including in particular...