Backing Banking?

I am generally gung-ho on banks and their need to embrace FinTech partners and on the need for FinTech firms to build the systems that can help smaller banks compete. The record, yet rather paltry, $185 million fine levied on Wells Fargo for fraudulently opening accounts to meet sales targets gives some support to that thesis, even though it's another black-eye for the industry.

Econvue Weekly Spotlight

Rankings and Reactions: CMS Launches Star Ratings for Hospitals

“The fault, dear Brutus, is not in our stars but in ourselves.” [1]  ~William Shakespeare

Seminar in Chicago: “The Vital Role of Director Training in Japan’s Corporate Governance Reforms”

The Board Director Training Institute of Japan (BDTI) is a government-certified nonprofit providing one-day “director training” courses in English and Japanese, and governance-related seminars and e-learning courses. These programs teach participants key knowledge needed to serve on, report to, or analyze boards in Japan.

The Economic Outlook for the Election and Beyond, and How Who Wins Could Change It

With nine weeks to go, the economic conditions for the election are set — modest growth, low inflation, and continuing job gains. A few Wall Street forecasters rate the odds of a 2016 recession at one-in-three; but unless a major shock wrenches the economy off its present course, bet with Janet Yellen and Ben Bernanke on the economic expansion continuing into next year.

Free Lunch: Where did all the productivity go? - My Comment

Here is my comment on Martin Sandbu's  Free Lunch: Where did all the productivity go? And what would it take to make it grow again?

Advice and Consent

My FinTech conversations this week have focused on the newer end of the ecosystem. An upcoming profile will feature a firm that provides bitcoin ATMs targeted at the unbanked so they can send money at lower fees than traditional transfers.

Another conversation with a financial planner concerned how he is working as a coach and trusted advisor, making more on his advice than on transactions. Given the rise of roboadvisors in the wealth management sector, it's a good move.

Sorry, Donald – The Incomes of Minority Households Grow More under Democrats than under Republicans

Donald Trump says that Democrats have failed American minorities, so let’s test his claim by the most basic economic criteria: What happened to the incomes of African Americans and Hispanics under Democratic and Republican administrations over the last 35 years? The data do not lie. The incomes of minority households — and in most cases the incomes of white households, too — grow faster under Democratic administrations than under GOP ones.

The FinTech Balancing Act