Statistics, Facts & Such
If it was a private corporation, the Postal Service would be the 12th largest business in the U.S.-and it has only shown a profit 17 out of the past 25 years.
35% of consumer checks are written at the time of purchase (a/k/a Point Of Sale). 50% of consumer checks are written to pay bills.
Since the introduction of electronic banking, the number of paper checks processed has increased 2% a year.
The new "Sinatra" credit card, issued by MBNA, is already a collector's item, worth $35 in mint condition according to the First International Credit Card Catalogue. "Elvis" cards are worth more.
OTS reported receiving 7,700 Criminal Referrals in 1992, and 7,300 in 1994. There were 750 major cases (over $100,000) reported in 1992, and 1,750 in 1994.
An estimated $60 billion was lost by lenders in 1994 in mortgage fraud, according to the Office of Thrift Supervision.
According to FDIC, there were 17,886 banks and thrifts in 1984, with 81,000 deposit taking offices. As of June, 1995 there were 12,249 institutions, with 83,000 branches.
One third (1/3) of all holiday shopping is done with checks.
The Mortgage Bankers Association of America reports mortgage applications are up 60% over this time last year.
David Ross Palmer Consultants say the average private banker spends only 12% of their workday in active sales. 59% of their time is spent in administrative activities, 8% in customer service and research, and 21% in miscellaneous duties.
Copyright © 1996 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 6, No. 4, 1/96
First published on 01/01/1996