Term
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Definition
| banks that lend money, accept deposits, and transfer money among businesses, other banks, and financial institutions |
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Term
| Saving and Loan Associations |
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Definition
| established to lend money and accept deposits |
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Term
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Definition
| set up to serve people who wished to make small deposits that large commercial banks won't handle |
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Term
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Definition
| people who deposit from these purchase shares and pay interest |
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Term
| Automated Tellers Machines |
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Definition
| machines that you can deposit and withdraw from at any time. |
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Term
| Automated Clearing House Services |
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Definition
| a system that transfers money from a customer's account to those of his or her creditors |
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Term
| Point-of-Sale Transactions |
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Definition
| the direct transfer of money from a buyer's bank account to a seller's bank account (uses a debit card) |
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Term
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Definition
| Linking of personal computers in homes with the bank's accounts to transact with the bank via home |
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Term
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Definition
| reduction of government restrictions |
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Term
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Definition
| Banks offering similar services to get more people to join their banks, union, etc. |
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Term
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Definition
| when banks from different states merge to offer services over a larger area |
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Term
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Definition
| Failure to make payments on a loan |
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Term
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Definition
| This was caused due to a large number of Loan Defaults 1982 - 92 |
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Term
| Savings and Loan in Crisis |
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Definition
| When S&Ls had to shut down or merge with larger institutions due to loan defaults. Total Cost around $165 Million by the end of the S&L bailouts by 1999 |
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