BigTech firms are gradually entering the financial sector and becoming important service providers, particularly in emerging markets. BigTechs have entered financial services using platform-based technology to facilitate payments and more recently expanded into other areas, such as lending,...

We show that the US residential single-family mortgage-origination market is highly concentrated once account is taken of the contractual coordination that arises from the correspondent- and warehouse-funding channels. We represent these channels as a network, using the flow of loans through...

In recent years, the traditional business of banks--making long-term loans and funding them by issuing short--dated deposits-has declined. This development has raised concerns that more banks will fail or be forced to assume greater risk to remain profitable. This article first examines the...

This issue of Banking and Community Perspectives explores the features and limitations of two of the existing products and services for the financially underserved--prepaid cards and small-dollar loans.

Legislative and regulatory actions taken in response to the financial turmoil that occurred between 2007-2009 expanded the extent to which financial institution liabilities were protected by federal government guarantees, i.e., these actions expanded the federal financial safety net. How large...

The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act sparked discussion of creating a systematic code that uniquely identifies an entity. This code is commonly referred to as a legal entity identifier (LEI). The information that is collected to accompany and describe the...