Bank accounts linked to prizes could be a way to boost low-income household savings, an adviser told a Federal Deposit Insurance Corp. panel Thursday.

FDIC Chairman Sheila Bair said the concept of prize-linked savings matched her goal to "look at any innovations that might be conducive to helping low- and moderate-income people build savings." But she cautioned that no innovation should siphon current savers away from traditional interest-earning deposits.

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