|
|
|
| HOME :: CURRENT ISSUES |
 |
Oklahoma banking industry issues
An in-depth look at some of the issues affecting the banking industry ... and you.
Current Issues
- Check 21 - The “Check 21” law makes the system of processing check payments fast and efficient. Under Check 21, all banks accept “substitute checks.” That means checks may be processed electronically and can clear almost instantly, saving time and money.
- Credit Union Competition - The “new-breed” of monolithic credit union conglomerates use the millions they save in taxes each year not to benefit their customers, but as a way to fund their own aggressive expansion and growth on a tax-free basis.
- Deposit Insurance Reform -
- Do Not Call policy - Someone in Minnesota has been calling banks around the U.S., asking to be given a copy of their “Do Not Call” policy within 5 days. Train your employees not to ignore this type of call. If a bank does not respond promptly, he threatens to sue, but offers to settle for several thousand dollars.
- Identity Theft - An estimated 500,000 cases of identity theft occur each year resulting in hundreds of millions of dollars in losses. Although consumers usually suffer little, if any, direct monetary loss, they often face the agonizing task of cleaning up their credit record and restoring their reputation. So be prepared and GUARD YOUR GOOD NAME!
- Predatory Lending - Abusive or “predatory” lenders target people who are strapped for cash – often preying on the elderly and people in lower-income groups. You need to know a “good” loan from a bad one. Otherwise, you could end up paying too much, hurting your credit rating – and even losing your home.
- Privacy - As banks use new technologies to make their products and services more convenient than ever, they remain committed to keeping their policies and practices in sync with their customers' privacy expectations. Consumers play an important role in protecting their information. Here's what you can do to help.
- Real Estate Competition -
- Robberies - The number of bank robberies in Oklahoma has grown tremendously in the past few years. Oklahoma banks are working together to fight this battle to protect the safety of bankers and their customers.
|
|
PRIVACY & SECURITY