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
| saving and loan associates |
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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 did not want to handle |
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Term
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Definition
| when members deposit money, they purchase shares that pay interest. these savings pools rae used to supply low-cost loans to their members. |
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Term
| automated teeler machines |
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Definition
| (ATM) make payments on bank loans or transfer money from one account to another automatically. makke deposits or withdrawals from checking and savings accounts. |
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Term
| automatic clearing house services |
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Definition
| trandfers 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
| direct transfer of money from a banker's account to a seller's account. |
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Term
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Definition
| opens accounts over the internet for customer's who are unable to come to one of the bank's branches |
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Term
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Definition
| reduction of government restrictions |
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Term
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Definition
| eliminated traditional differences between financial institutions such as commercial banks and S&Ls. |
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Term
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Definition
| allows banks to merge with other banks and to build branch offices in other states whose state legislatures were agreeable to the expansion |
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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
| when a bank no longer has enough assets to cover its accounts |
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Term
| saving and loans in crisis |
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Definition
| borrowers fail to make payments on many loans some savings and loan associations fail and others are absorbed by larger financial institutions |
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