Lack of New Banks is a significant issue for the US Banking industry

This is because the ultimate plan is to launch the blockchain-powered Central Bank Digital Currencies…

Mostly Economics

Governor Michelle W. Bowman of Federal Reserve in this speech raises concerns over lack of new banks particularly de novo banks in US:

why have there been so few de novo bank formations over the last decade?

There have been only a handful of new bank charter applications over the past decade. In fact, only 44 de novo banks have been established, which include both state and national charters. A 2014 study by Federal Reserve Board economists noted that from 1990 to 2008, over 2,000 new banks were formed, which on average is more than 100 per year.6 In contrast, the study noted that only seven new banks were formed from 2009 to 2013. The 2014 Board study suggests that “low interest rates and depressed demand for banking services—both of which depress profit for banks, and particularly new banks—may also have discouraged entry.”7

The conclusions from a Federal…

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Corporate Finance Entry #1: Credit

My credentials to give advice on these matters stem from my undergraduate and graduate school studies in Finance, Accounting and Information Technology as well as my CPA license having worked in public accounting and risk management consulting for nearly ten years. There are alot of people with aspirations to put their already operational small business into compliance; establishment of legal and tax protections.

Also, people that read the content on my site tend to understand WHO developed this playing field therefore I find it important to share some insight on how to adapt to the underbelly mechanisms of small business management, regulatory compliance and internal corporate financial oversight.

Obtaining a line of credit is NOT vital to run a successful business. However, obtaining a line of credit and mismanagement of this leverage – I have seen it CRUSH small businesses. I found an excellent website in which the author has very neatly categorized and compartmentalized many facets of corporate finance and accounting in language that is easy to understand.