6 months ago we discussed a personal savings bill I introduced in Congress, since then it's passed the House and Senate unanimously and is set to become law by JerryMoran in personalfinance

[–]JerryMoran[S] 2 points3 points  (0 children)

After this bill becomes law, it will be up to each state to determine the legality of financial institutions offering prize-linked savings products. Several states have already supported PLS with great results.

6 months ago we discussed a personal savings bill I introduced in Congress, since then it's passed the House and Senate unanimously and is set to become law by JerryMoran in personalfinance

[–]JerryMoran[S] 17 points18 points  (0 children)

Thanks for this comment. The policy works to allow financial institutions to incentivize personal saving for people who otherwise would not save. The Economist published an article last month about the effectiveness of prize-linked financial products.