Statistics, Facts & Such

It is not unusual for large financial institutions such as Citibank, Chase, Bank of America, etc. to get 100 subpoenas a week.

The FBI reports it received over 40,000 Criminal Referral Forms in 1993.

A large, one day ad for bank products in a metropolitan newspaper can cost $2,000.

The interest on up to $100,000 of an equity loan on your principal residence is tax deductible.

There are between 180 to 200 minuscule areas in a fingerprint that can be compared. If as few as 12 match, the print can be positively identified.

In 1988 the FBI had 300 agents working financial institution cases. There are now 900.

In 1993 an estimated $5 billion were lost due to FHA mortgage fraud.

The Security and Exchange Commission released a study that found that 20% of mutual fund holders think all mutual funds sold through banks are federally insured. However...39% also think mutual funds purchased from a stock broker are federally insured!

An electronically run survey at the ABA's Annual Convention revealed that 14% of the bankers polled do not have a board-approved written policy against lending discrimination. And 7 out of 10 banks still had not instituted programs to give rejected loans a "second" look, as has been strongly "suggested" by regulators.

Approximately 72% of Americans have checking accounts, according to the Roper Organization.

There are now over 5,000 check-cashing "stores" in the United States. Five years ago (1989) there were less than 2,500.

Copyright © 1994 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 4, No. 9, 3/94