How The US Government Is Driving Innovation In Financial Services

Over the last two weeks, we saw two interesting innovations in the financial services industry introduced – by the federal government.   During his State of the Union address, President Obama introduced “MyRA” a retirement account targeted towards new savers and the under banked.  Many analysts have referred to it as a hybrid between a traditional savings bond and a Roth IRA.  The account provides account holders with the guaranteed backing of the US government on the principal, and in...