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Description - Savings for the Poor by Michael A. Stegman

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.

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Book Details

ISBN: 9780815780939
ISBN-10: 0815780931
Format: Paperback
Pages: 205
Imprint: Brookings Institution
Publisher: Brookings Institution
Publish Date: 1-Aug-1999
Country of Publication: United States

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Author Biography - Michael A. Stegman

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. Joseph I. Lieberman is a former United States Senator from Connecticut.

Books By Michael A. Stegman

Investing in the Disadvantaged by Michael A. Stegman
Paperback, March 2009