Financial Services is a neologism created by banks, insurance
banks, and brokerages, to describe the industry
in which companies providing all those services are fully integrated. This term
arose around and because of the US Gramm-Leach-Billey Act
of the late 1990s, which allowed these companies to merge. Critics say this is a term which attempts to make the unison of these operations sound natural, ignoring the possible problems from combining them, such as monopolization.