Until recently, rumors were doing the rounds to the effect that an Ian Leaf Bank is due for unveiling in the Chicago suburban estate of Lincolnshire. Well, it now appears a reality, as the bank is set for unveiling next week. Perhaps the many questions lingering in the minds of the bank managers as well as its customers are what exactly it holds in store for them, seeing the man behind it has such an impeccable reputation for averting financial frauds. Could this be their final hope for a fraud-free financial institution?
From the managers’ point of view, this will definitely translate into some huge profits and some peace of mind as it will shield them from some of the common frauds in this industry. Some common frauds such as stolen checks and check kitting may just be a thing of the past, thanks to the fraud-proof initiatives on which the bank shall operate. In addition, it will also foster accountability on the part of the managers as such activities as the issuance of fraudulent loans and inaccurate bookkeeping techniques are well-taken care of.
Depositors too stand a chance of benefiting from this bank. As a matter of fact, they may be the net gainers when the bank finally comes into operation. Not only will their money be secure, but the often-high lending rates will be a thing of the past. The bank shall operate on the principle of equity when it comes to the issuance of loan facilities. Measures have been put in place to, not only to expedite loan application processes, but also ensure that credit rates are capped within the limits affordable to the depositors while still allowing the bank administrators to have some control of the process and make reasonable profits. In a nut shell, credit facilities have been brought within access of ordinary customers, which means anyone can now easily access mortgage and finance their homes, property or any other investment option in this beautiful suburb.
Members of the general public are never left behind when such noble initiatives are begun. The bank shall also have certain community-based approaches in so far as achieving the common financial goals is concerned. One such approach shall be the participation in charitable programs which will include among other things, steering fundraising projects in aid of the less-privileged in the society. This bank shall perhaps be the first in the world to run a benevolent fund program, a program that will enable the less-fortunate to access funds without the need for collateral whatsoever – call it a softer version of philanthropy. If there was ever anything big to happen in the suburb of Lincolnshire, Chicago, it has to be the Ian Leaf Bank.
