Items tagged with finance:

News & Updates:

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  Student-loan borrowers are using their vacation days to pay off their debt
  Wharton Professor Peter Cappelli comments on PTO exchanges, or a new system where employees can trade in the monetary value of their vacation days in exchange for compensation to pay off student debts. Cappelli notes how strategies such as this one are creative solutions to deal with an ever tightening labor market. 
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  Payment Processing Is Finally Getting the Upgrade It Deserves

  If your friend owes you money for putting the dinner tab on his card, all it takes is a few clicks in the Venmo app and within minutes the money is in your account. It is one of the easiest ways to transfer money between people. Yet the backbone of Venmo and the entire American financial system—the main payment processing system the United States—still runs on the same schedule as when it was launched in 1974. This is the reason why when you get a paycheck on a Friday, the funds are not available until the following Monday or Tuesday. In October, the Federal Reserve put out a notice seeking comments on how the central bank could “support faster payments in the United States.” While this upgrade is still in its early stages, the Federal Reserve needs to make a massive change in how payments are processed in the United States. The Fed should correct some of the system’s regressive components and make the system quicker and more consumer-friendly.

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  Will a $1 Billion Fine Change Wells Fargo?
  Wharton Professor David Zaring discusses the implications of the $1 billion dollar fine levied on Wells Fargo and whether or not it is a sufficient value to function as a deterrent for future malpractices in big banks
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  Can fintech increase lending? How courts are undermining financial inclusion
  Wharton Professor Peter Conti-Brown provides a historical conversation aimed at answering how laws and the court system have informed the polarizing question of “how much should credit cost?”(especially for those that are the most socially and financially disadvantaged in society)
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  Fintech: What’s Real, and What’s Hype
  Itay Goldstein discusses where in the financial technology space is the most opportunity located. He argues that not only is fintech going to overhaul the traditional finance industry, but that there are also tons of activities occurring outside of the traditional finance sector. Therefore, he suggests it is crucial to critically analyze new technologies and their impacts on global society.