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Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate banking).
The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried goods between cities. This was around 2000 BCE in Assyria , India and Sumer .
A national bank is a bank that is nationally or federally chartered and is allowed to operate throughout the country in any state. An advantage of holding a National Bank Act charter is that a national bank is not subject to state usury laws intended to prevent predatory lending. [16] (However, see also Cuomo v.
Retail banking involves providing individuals and sometimes small businesses with financial services such as checking and savings accounts, credit cards, auto loans, mortgages, insurance and ...
Rothbard, Murray N., History of Money and Banking in the United States.Full text (510 pages) in pdf format, A libertarian interpretation; Schweikart, Larry, ed. Banking and Finance to 1913 (1990), an encyclopedia with short articles by experts Schweikart, Larry, ed. Banking and Finance, 1913-1989 (1990), an encyclopedia with short articles by ...
The separation of investment and retail banking aims to protect the "utility" aspects of day-to-day banking from being endangered by losses sustained by higher-risk investment activities ("casino banking"). This can take the form of a two-tier structure in which a company is banned from doing both activities, or enforcing a legal ring-fence ...
UBS CEO Sergio Ermotti has taken on a challenge unprecedented in the history of global banking, and the stakes for him, the bank and global financial markets are sky-high.
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