Statistics, Facts & Such

The Consumers Union says there were 109,080 ATMs in the United States by the end of 1994.

Aragon Consulting Group reports a study that found 64% of parents in the U.S. think their children should have access to a credit card by the age of 18. Over 50%, however, thinks the card-holding child should have a job first.

The Aragon Consulting Group study also showed that over 16% of U.S. households have children using credit cards, over half of them issued in the child's name.

More than 100,000 new corporate customers began using automatic clearing house transactions during 1995.

A special flood hazard area (SFHA) is an area within a flood plain having a one percent or greater chance of flood occurrence in any given year.

A start-up bank generally does not break even until its third year, and does not make a profit (15% return on equity, 1.50% return on assets) until its fifth year, according to experts.

The Federal Emergency Management Agency (FEMA) standard flood insurance policy says that "mobile home" and "manufactured home" have the same meaning. But the term "mobile home" does not include a recreational vehicle.

Two new banking terms came out of the Minimum Wage Law: SIMPLE- stands for Saving Incentive Match PLan for Employees and FASIT- which stands for Financial Asset Securitization Investment Trust.

RESPA only applies to mobile home loans if they are also secured by real estate.

Copyright © 1996 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 6, No. 10, 8/96