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Computers and Banking

Electronic Funds Transfer Systems and Public Policy

  • Book
  • © 1980

Overview

Editors:
  1. Kent W. Colton

    1. Graduate School of Management, Brigham Young University, Provo, USA
      Public Systems Evaluation, Inc., Cambridge, USA

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  2. Kenneth L. Kraemer

    1. Graduate School of Administration, Irvine, USA
      Public Policy Research Organization, University of California at Irvine, Irvine, USA

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    You can also search for this editor in PubMed   Google Scholar

Part of the book series: Applications of Modern Technology in Business (AMTB)

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Table of contents (19 chapters)

  1. Front Matter

    Pages i-xv
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  2. Introduction

    1. Front Matter

      Pages 1-1
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    2. EFT as a Case of Technology and Public Policy

      • Kent W. Colton, Kenneth L. Kraemer
      Pages 3-17

  3. EFT Technology

    1. Front Matter

      Pages 19-19
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    2. Outlook for EFT Technology

      • Thomas F. Horan
      Pages 21-38

    3. Status of EFT: An Assessment of Services and a Review of EFT in the Fifty States

      • Peter D. Louderback
      Pages 39-52

  4. Impact on Society

    1. Front Matter

      Pages 53-53
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    2. EFT and the Consumer: An Agenda for Research

      • Kathryn H. Humes
      Pages 55-65

    3. More Inequality: An Exploration of Potential Impacts of EFT on Stratification in American Society

      • Starr Roxanne Hiltz, Murray Turoff
      Pages 67-80

    4. EFT, Privacy, and the Public Good

      • Christopher E. Heller
      Pages 81-89

    5. Vulnerabilities of EFT Systems to Intentionally Caused Losses

      • Donn B. Parker
      Pages 91-102

  5. Economic Impact

    1. Front Matter

      Pages 103-103
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    2. Costs of the Current U.S. Payments System

      • Allen H. Lipis
      Pages 105-116

    3. An Overview of the Economic Characteristics of Electronic Funds Transfer Systems

      • Mark G. Bender
      Pages 117-132

    4. National Economic and Monetary Impacts of EFT

      • Dwight M. Jaffee
      Pages 133-138

  6. EFT Regulation and Control

    1. Front Matter

      Pages 139-139
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    2. Problems and Policies in Making EFT Available to the Public

      • George W. Mitchell
      Pages 141-146

    3. Public Protection and Education Under EFT

      • Robert H. Long
      Pages 147-160

    4. Regulatory and Operational Issues in EFT

      • Deborah R. Silverman
      Pages 161-165

  7. Monitoring and Evaluating EFT Systems

    1. Front Matter

      Pages 167-167
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Keywords

About this book

Electronic funds transfer (EFT) systems include a wide range of computer-based payment systems and sources that substitute electronic and digital transfers for movements of cash and paper checks. A few years ago some people were predict­ ing that EFT would replace paper money and coins entirely and that we would soon be a "checkless" and' 'cashless" society. Such sweeping changes have not occurred, but a slower evolution is clearly underway. Although checks, cur­ rency, and coin are likely to be here for many years to come, EFT is becoming an established part of our worldwide payment transfer system, and the implications and consequences of this technology are real. They include: • Alterations in personal finance and in the process of purchasing and paying for consumer goods and services. • Changes in the structure of financial and retail organizations and their mode of interaction in the marketplace. • Modifications in the flow of funds in our society and in the interactions among economic institutions. • Alterations in the prospects for invasion of personal privacy, perpetration of fraud and theft, and violation of antitrust regulations. • Changes in the regulatory and competitive balance among the numerous financial institutions in the United States. Such alterations foretell important impacts on people and society. Benefits are forthcoming, but the costs will also be real.

Editors and Affiliations

  • Graduate School of Management, Brigham Young University, Provo, USA

    Kent W. Colton

  • Public Systems Evaluation, Inc., Cambridge, USA

    Kent W. Colton

  • Graduate School of Administration, Irvine, USA

    Kenneth L. Kraemer

  • Public Policy Research Organization, University of California at Irvine, Irvine, USA

    Kenneth L. Kraemer

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