Statistics, Facts & Such
The Federal Reserve Survey of Consumer Finance shows that by 1992, 87.5% of families in the United States have some type of transaction account-checking, savings, or money market.
One expert in financial institution budgeting estimates the cost of operating branches and ATMs may be as high as 40% of total non-interest expense.
In 1992 there supposedly was about $300 billion of notes and coin in circulation, not including the amount held by financial institutions.
Check deposits in 1992 totaled about $742 billion.
Corporate check fraud declined from 22% in 1993 to 17% in 1994, according to a report in Checks & Checking. During the same period, credit card fraud climbed from 15% in 1993 to 52% in 1994.
According to "It's Never Too Late to Get Rich" by James Jorgensen, the percentage of your portfolio invested in stocks should equal 100 minus your age.
The price of homes in 1994 has risen 18% over prices in 1989. During that time median family incomes have risen by 13%.
Just prior to 1990, 7% of new mortgages were made with 10% or less down payment. By 1994, 24% of new mortgages fell in that category.
Congressional studies in 1989 revealed that only 35% of structures that required flood insurance in flood hazard zones actually had flood insurance
WRD Consulting Group says they estimate the cost of an audit for the new Flood Act requirements will be about $2 per loan.
Copyright © 1994 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 5, No. 4, 12/94
First published on 12/01/1994