timer Asked: Jul 31st, 2013

Question Description

Can you help me understand this Business Law question?

After reading the following scenario, respond to all of the following prompts:

Technology has allowed banks to conduct transactions over the internet, also known as eBanking, and to more easily merge into larger banks.Traditionally, bankers and their customers dealt in face-to-face transactions that allowed the assessment of trust on the basis of physically observed information.

While some banks have resisted change due to the traditional personal relationships they have had with customers, electronic commerce dramatically reduces transaction costs, use of paper, and the need for personnel to deal with customers face-to-face.The recent financial crisis in the banking industry required billions in government bailouts to banks considered "too big to fail." Some have argued that the loss of smaller banks with personal connections to customers and local business operations led to the crisis.

  • Do you think that eBanking's efficiencies are worth the reduced personal contact with banks and work force reductions?
  • Do you think that there is a connection between the demise of the local bank and the banking crisis? If so, what are the implications for the future?

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

This question has not been answered.

Create a free account to get help with this and any other question!

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors