Term
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Definition
| lend money, accept deposits, and transfer money among businesses, other banks and financial institutions, and individuals. |
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Term
| savings and loan associations |
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Definition
| S&Ls. est. to lend money and accept deposits. |
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Term
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Definition
| serve people who wished to make small deposits that large commercial banks did not want to handle. |
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Term
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Definition
| when deposit money, they purchase shares that pay interest. for employees of large business's & labor unions. |
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Term
| automated teller machines |
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Definition
| ATM. to deposit or withdraw money from a bank account easily. |
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Term
| automatic clearing house services |
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Definition
| system that transfers money from a customers account to those of his/her creditors. |
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Term
| point of sale transactions |
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Definition
| direct transfer of money from a buyers bank account to a sellers bank account. (debit card) |
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Term
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Definition
| check balances, transfer money and apply for loans over the phone or internet. |
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Term
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Definition
| reduction of government restrictions |
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Term
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Definition
| interest rates, checking accounts, and required reserves made banking more competitive. |
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Term
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Definition
| allowed banks to merge with other banks and to build branch offices in other states whose state legislatures were agreeable to expansion. |
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Term
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Definition
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Term
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Definition
| bank fails when it no longer has enough assets to cover its account |
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Term
| savings and loan in crisis |
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Definition
| fail to make payments, having only private insurance. |
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