Articles

"A New Branch? That's News To Me!"

"Hi!, I Want To Open An Account. Here's My ID."

REGULATION CHANGES WILL LIMIT YOUR CHOICES

by Carl P. Brown

Do YOU Pay The Claim?

Even before we get to the final schedule on Reg CC, we already have changes in the works.

But anyone who works in Return Items already knows that Reg CC is not working!

How can we "send money" without mailing a check? We are used to our ATMs, and we've all grown used to "instant cash" when we need it.

I just read an article in the AMERICAN BANKER that said that Regulation CC had "little to no impact", according to a poll done by Trans Data Corporation.

It seems as if all areas of banking these days have over-stressed people.

Once a credit card account is opened, we have very little defense against loss. Loss figures on the misuse of credit cards is expected to top a whopping one billion dollars in 1989.

Stop payments can be put on a check written by a customer on their account with just a phone call-and can be effective even before being confirmed in writing.

The Bank Protection Act calls for the training of employees in their responsibilities during robberies.

Angry customers are one thing. Angry older customers are definitely another!

With over 70,000 ATMs in operation today, and "new" money costing about three cents per note, it is very costly to destroy notes that still have "life" in them and replace them with new notes.

By now, you are already experiencing one of the most complicated of the new government requirements-that of the new 4789 described on the front page of this newsletter.You may have also already had

"But I KNOW I made the deposit in time!"

"The new computer conversion will solve all our computer problems!"

"Hi! I'm from the government, and I'm here to help you!"

Every auditor I have ever talked to really loves their job, and feels that they can meet the challenge of today adequately-if they are given the chance.