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Concerning Debt Consolidation…

With so many individuals and families mired in debt—and sinking ever deeper as the days pass—it's easy to see how the rapidly expanding debt-consolidation market has grown into a multi-million-dollar industry. The seductiveness of easy credit has lured countless numbers of unsuspecting consumers into its trappings of fine print, higher interest and long-term payments. Once inside, solid financial footing begins to give way to a quicksand of installments and revolving balances due, which can eat up a family's resources at breakneck speed. It's no wonder, then, that when an apparent lifeline is thrown their way, many people...

There's a revolution taking place in the banking industry. Known as "open-banking" or API-facilitated information sharing, this movement is changing how banks do business and empowering consumers by giving them greater control over their financial data. Although this banking strategy was first employed in 2004 with the first PayPal API, its adaptation in the traditional banking sector was slow, mostly due to the industry's preference for legacy-based solutions. Today, there are hundreds of banking APIs and open banking is meeting consumer and fintech demand for smarter financial technology.

What is Open Banking?

Open banking is rooted in the idea...

For CFOs and small business owners, there are soon to be big changes regarding how leases appear on corporate financial statements. The new accounting rules aim for more transparency and will affect the balance sheets and profit and loss statements (P&L's) for any business that leases long-term office space.

The Financial Accounting Standards Board (FASB) created and drafted the new measures. Investopedia defines FASB as "a private, non-profit organization and standard-setting body, whose primary purpose is to establish and improve generally accepted accounting principles within the United States, with interest in the public good."

Believe it or not, the motivation...