Phillips, M. (2014, June5). The spectacular decline of checks. The Atlantic. Retrieved from https://www.theatlantic.com/business/archive/2014/06/the-rise-and-fall-of-checks/372217/
Second, answer the following questions. In your initial response to the topic you have to answer all questions:
If all transactions were made on paper, how could a bank store all of its paper records? When might they decide to destroy these records
There were social consequences of mass banking, including introducing the public to interest rates on deposits and loans.
Thinking now about twentieth century U.S. culture, how might this understanding of interest rates have affected how U.S. consumers behaved with their money?
Reflection – the students also should include a paragraph in the initial response in their own words, using finance terminology, reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace or in everyday life.
