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Family cheque accounts and banking deregulation in the US
Author(s) -
XIAO JING JIAN,
MALROUTU Y. LAKSHMI,
OLSON GERALDINE I.
Publication year - 1997
Publication title -
journal of consumer studies and home economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.775
H-Index - 71
eISSN - 1470-6431
pISSN - 0309-3891
DOI - 10.1111/j.1470-6431.1997.tb00267.x
Subject(s) - cheque , economics , deregulation , business , market economy , computer science , computer security
Data from the Surveys of Consumer Finances in 1983 and 1989 indicated that proportions of households owning all types of cheque accounts and regular cheque accounts increased, while the proportion owning money market‐type cheque accounts decreased. In addition, the average balances of primary cheque accounts went up over the 6‐year period. Results from descriptive and multivariate analyses suggest that compared with other households, low‐income households were worse off over the period in terms of owning various cheque accounts and balances of primary cheque accounts. Factors associated with the ownership of various cheque accounts and balances of primary cheque accounts are discussed. Findings have implications for public policies as the period of 1983–89 saw significant deregulation of US depository institutions.