Term
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Definition
| Lend money accept deposits and transfer money among businesses. |
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Term
| Savings and Loan Associations |
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Definition
| called "thrifts" began as home-building societies. |
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Term
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Definition
| Serve people who want to make small deposits. |
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Term
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Definition
| Use savings pool to provide low interest loans. |
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Term
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Definition
| Machine to withdraw and deposit money open 24 hours. |
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Term
| Point of Sale Transactions |
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Definition
| Using a debit card to pay for purchases. |
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Term
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Definition
| Giving people the ability to pay bills, deposit funds, and transfer money from home. |
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Term
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Definition
| Government reduces restrictions. |
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Term
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Definition
| Banks compete to give lowest interest rate. |
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Term
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Definition
| Banks can branch out to any state they want. |
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Term
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Definition
| Failing to pay back a loan. |
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Term
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Definition
| When a lot of people default on loans and the banks don't have enough money to cover its assets. |
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Term
| Savings and Loan in Crisis |
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Definition
| Savings and Loan Associations had many people fail to repay loans, and most only had private insurance. |
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Term
| Automatic Clearing House services |
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Definition
| Bills paid automatically through a bank account. |
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