Savings for the Poor: The Hidden Benefits of Electronic Banking [Paperback]

Michael A. Stegman (Author)

Book Description

Series: Brookings Metropolitan Series | Publication Date: August 1999

At the beginning of 1999, federal payments began to be made via electronic funds transfer (EFT); the motive behind this move was a drive towards efficiency and cost-cutting. In this text, the author argues that the initiative has a far broader potential: to bring poor Americans into the banking mainstream. "Savings for the Poor" outlines how many families w ill enter the mainstream system through EFT'99, as the programme is called. Stegman proposes that it be combined with a programme of national Individual Development Accounts (IDAs) - dedicated savings accounts for low-income people that can be used for purchasing a first home, acquiring more education or job training, or starting a small business.

Editorial Reviews

Review

"Michael Stegman has written an important book. It is a must read for anyone interested in ways to alleviate poverty and to achieve a greater degree of economic well-being in our country." —Eugene A. Ludwig, Vice Chairman Bankers Trust/Deutsche Bank

About the Author

Michael A. Stegman is professor of public policy and director of the Center for Community Capitalism in the Kenan Institute of Private Enterprise, University of North Carolina at Chapel Hill. He was previously Assistant Secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development.

Product Details

• Paperback: 215 pages
• Publisher: Brookings Inst Pr (August 1999)
• Language: English
• ISBN-10: 0815780931
• ISBN-13: 978-0815780939
• Product Dimensions: 9.1 x 6.1 x 0.6 inches
• Shipping Weight: 11.2 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #822,916 in Books (See Top 100 in Books)

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