January 7, 2009 Episode

Phillis George and Billy George are today's featured guests. Both Phyllis and Billy have worked in banking for many years, however, this interview is NOT about the current bailouts and other well publicized banking debacles. Those thoroughly examined topics can be left to the army of other interviewers. This interview is about the trends within all of banking, and especially at your neighborhood bank, and how these trends are changing your bank into what it will eventually become. Hosted by Stephen Euin Cobb, this is the January 7, 2009 episode of The Future And You. [Running time: 68 minutes] Topics include: how Billy George discovered a crook working inside his bank who was stealing money from his account; why the  scam called Check Kiting is becoming impossible in more and more locations; methods of sending money--without a check--to people in the US and Mexico; circumstances in which fear over identity theft make no sense; and why sometimes the people you think will be early adopters resist new technologies, and those you think will resist already love it. Also, how some banks are dumping their problem customers in order to improve customer service for those who are not a problem; why your check sometimes clears the bank while you're still talking to the merchant you just handed it to; why banks like their employees to bring their cell phones to work, as long as they don't use them very much; the benefits of online banking which go way beyond saving money; as well as credit cards, debit cards, smart cards, and cards with computer chips inside them. All this, combined with other misunderstandings about banking which cost people money. For example: many people don't understand that a loan officer's job is to sell them a loan. They are no different than a car dealer. Their job to sell the customer the loan that is best for the bank, not best for the customer.