Financial services include many types of service providers which support the enormous financial industry. Included among the various kinds of services are banks, credit card companies, insurance companies, consumer finance companies and more.

The term “financial services” started to be used more after the Gramm-Leach-Bliley Act at the end of the 20^th century.  This piece of legislation allowed different types of companies which operate the U.S. as financial service providers to merge with each other. This meant that banks could buy insurance companies, or purchase investment banks, but keep the original brands of the acquired firm. This way the company could more easily diversify its earnings.

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