This raises all kinds of organisational and managerial questions, varying from the amount of autonomy that the business lines should have, to issues with regard to control frameworks and reporting lines. There is no easy answer. Secondly, financial institutions have to make sure that they comply with applicable laws and regulations in the jurisdictions where they operate.
According to a number of measures, income has grown more slowly for middle-class households since the 1970s than for those with higher incomes, resulting in wider income inequality. The kind of generational improvements in living standards that were long the hallmark of the American middle class have steadily diminished.