The Changing Landscape of the Financial Services Industry: What Lies Ahead?

17 Pages Posted: 3 Sep 2004  

Cara S. Lown

Federal Reserve Banks - Federal Reserve Bank of New York

Carol L. Osler

Brandeis University - International Business School

Amir Sufi

University of Chicago - Booth School of Business; NBER

Philip E. Strahan

Boston College - Department of Finance; National Bureau of Economic Research (NBER)

Abstract

This paper examines the consequences of the Financial Services Modernization Act of 1999 for the structure of the U.S. financial services industry. We ask how the industry may evolve as this new legislation interacts with the consolidation trend already under way, what types of mergers are most likely to occur, and how profitable and risky the resulting firms might be.

Keywords: Gramm Leach Bliley, Financial Services Modernization Act, bank consolidation, financial services consolidation

JEL Classification: G2

Suggested Citation

Lown, Cara S. and Osler, Carol L. and Sufi, Amir and Strahan, Philip E., The Changing Landscape of the Financial Services Industry: What Lies Ahead?. FRB of New York Economic Policy Review, Vol. 6, No. 4, pp. 39-55, October 2000. Available at SSRN: https://ssrn.com/abstract=571342

Cara S. Lown

Federal Reserve Banks - Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045-0001
United States
212-720-1232 (Phone)

Carol L. Osler

Brandeis University - International Business School ( email )

Mailstop 32
Waltham, MA 02454-9110
United States
781-736-4826 (Phone)

Amir Sufi (Contact Author)

University of Chicago - Booth School of Business ( email )

5807 S. Woodlawn Avenue
Chicago, IL 60637
United States

NBER

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Philip E. Strahan

Boston College - Department of Finance ( email )

Carroll School of Management
140 Commonwealth Avenue
Chestnut Hill, MA 02467-3808
United States
617-552-6430 (Phone)
617-552-0431 (Fax)

HOME PAGE: http://www2.bc.edu/~strahan

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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