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| | Fiscal Notes, April 1997 |
 | | As access to the Internet improves, banks are developing ways to attract new customers and conduct financial transactions through new forms of currency, as well as to compete with non--bank institutions such as credit unions, brokerage firms, financial services, mortgage and insurance companies and other firms offering services traditionally offered by banks. |
 | | Customers who are least interested in on-line banking say they question the privacy and security of the system and their money, especially after a much-publicized breach of banking security in 1995 involving a Russian hacker accused of pilfering $3 million from Citibank's electronic banking system. |
 | | Interactive banking by telephone, for instance, is offered by almost all institutions, and is used at least once a month by one in three households, according to Payment Systems Inc. Internet banking is expected to grow much faster once most American households have Internet access either through WebTV, a special screen telephone or a PC. |
| www.window.state.tx.us /comptrol/fnotes/fn9704.html (6964 words) |
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