Statistics, Facts, & Such

Check returns account for less than 1% of the 174 million checks processed each day, according to the American Bankers Association.

There are about 2,500 bank Web sites already up and running.

Americans lose an estimated $40 billion a year to telemarketing fraud, compared to the estimated $12 billion in check fraud.

The Lord's Prayer is 66 words; the Gettysburg Address is 286 words; there are 1,322 words in the Declaration of Independence; but government regulations on the sale of cabbage total 26,911 words.

A by-industry study of workers compensation from 1993 through 1996 showed the highest percentage of cost (11.5%) to be those paid to the banking industry, with the majority of claims in the banking sample group (93%) filed due to stress.

The Mortgage Bankers Association says 1998 is expected to see a new record $1.3 trillion in home loans, due to low interest rates and a healthy U.S. economy. The last high record was $1.0 trillion in 1993.

Two-thirds of college attendees already have credit cards; 27% carry more than four; 14% carry balances under $7,000; 10% have debts over $7,000. Visa U.S.A. reports that two years ago almost 10% of bankruptcy filings were by card holders under 25 years of age.

At least one credit card issuer now offers credit cards to high school students.

The average employee turnover rate in the financial industry is over 23%.

Copyright © 1998 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 8, No. 10, 9/98