Wonder If They Had A Problem With Reg CC?
In an article in the American Banker May 8,1990, Ann Richards, Treasurer for the state of Texas, talked about how things were done before she instituted electronic funds capability.
She said when she took office in 1982, checks in one agency were collected in a big sack and carried across the street (to process for deposit) "when the bag got full".
Sounds like a system where nobody cared about funds availability.
Ahhh-to have those days back !
Copyright © 1990 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 1, No. 5, 5/90
First published on 05/01/1990