Peyton Madison
26 September 2014
Expert Interview

In today’s society, banking and financial procedures have drastically changed for what most would agree as positive. From my personal experiences I would have to admit my opinion coincides with the vast public’s judgement. Perhaps they have came to this conclusion from the fact that credit has helped them achieve material contentment. Or perhaps credit has helped many get the expensive education otherwise not tangible. For my grandmother, Tisha Seely, today’s banking has had a positive growth in their tactics. In one century, our stocks have fell and rose, our banks have improved their system, and the financial industry is made more safe today than ever. When asked what banking was like at the time of her first account, Tisha responded with, “Simpler. A lot simpler. You could go in without any identification, told them what kind of transaction, and what name it was under.” Now with saying that you would assume she had an account in a small town with a lot of community. But that is not the case, her bank happened to be right here in Wichita! Think about how many customers these banks deal with considering Sedgwick county population in 1967 was 354,223 people. As you can predict, throughout my 63 year old grandmother’s life, many changes have been brought to the banking world. I asked Grandma Tish how this has progressed in her life and she responded that the speed has been a huge change. By this she means you could write out a check and not expect it to be cleared until no sooner than four business days. Today, transactions are almost immediate thanks to our booming technology improvements. What she recalls is credit was loan based, there were no ATM’s, and counter checks were extremely un-personalized. We had no no Payday Loans in Wichita and interest rates were much more moderate. To receive a loan from a bank, my grandma explains, the person had to have a better reason for the loan and you had to explain how long you were to keep the loan. My grandma has her own opinions for the changes in consumerism. She says it is too easy to get a credit card today. Because they offer credit cards to