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How Effective Is Lifeline Banking in Assisting the Unbanked?, Volume 4, Issue 6

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How Effective Is Lifeline Banking in Assisting the Unbanked?, Volume 4, Issue 6

DATE: June 1998

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ABSTRACT: Many consumers who lack checking accounts are paying relatively high costs to access the nation's payments system. Legislation aimed at opening the system to these unbanked individuals has centered on requiring commercial banks to offer low-cost 'lifeline' accounts. But will cost savings alone motivate these consumers to access the payments system through banks?

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Federal Reserve Bank of New York. Research and Statistics Group. "How Effective Is Lifeline Banking in Assisting the Unbanked?, Volume 4, Issue 6," Current Issues in Economics and Finance (June 1998). https://fraser.stlouisfed.org/title/6879/item/627891, accessed on March 28, 2023.

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