CrossCheck Blog

"All you need is love, but a little chocolate doesn't hurt," said Peanuts' creator Charles Schulz. How about over 50 million pounds of it? That's how much chocolate is sold during Valentine's week leading up to the big day. And chocolate isn't the only thing bought to seal the deal on February 14. The top gifts for Valentine's Day, in addition to candy, are flowers, jewelry and a romantic night out. These are presented along with a card filled with romantic sentiments. Add it all up and total spending for the holiday this year is expected to reach $18.6 billion.

Check fraud and forged checks mean losses for several parties: the business receiving the check, the person, or business, whose account was compromised and the financial institutions sorting it all out. Recently, several arrests for check fraud have made the news. One arrest involved a woman in California who created checks using blank stock in her home and then purchased gift cards with them.

Get ready... 2013 is expected to be a banner year for automotive dealers if the predictions for a big, big year in auto sales ring true. After a healthy and happy December for US auto dealerships, auto industry analysts are forecasting new car sales to continue at pre-recession levels for the upcoming year. Wall Street, auto dealers, and auto buyers are all cheering this news!

The holidays are all about tradition, right? Year after year we visit Santa, bake cookies, decorate the tree, attend parties, light up the front yard, and shop, shop, shop. But our shopping habits have changed over the past few years, partly because of the economy and partly because of technology. Layaway, early shopping, discounts, online spending and mobile payments are challenging tradition and may likely become the "new normal." Here's a look at some new habits that are changing the way we shop during the holidays.

With the holiday shopping season upon us, now is a good time to brush up on your online shopping safety. Statistics show that online shopping is on the rise and e-commerce sales are predicted to increase by 11 percent this year. Regardless of how much or how little online shopping you've done, it's always a good idea to review best practices for online security.

Home furnishing sales have seen a jump this year and are expected to stay strong during the holidays. Holiday spending overall is expected to increase by 4.1 percent according to the National Retail Federation. Better yet, IBM is predicting home stores will do more than that and see at least 7 percent growth during November and December. Yearly sales are expected to end up over 9 percent higher than last year. Seasonal shopping sprees and purchases of new holiday decor aren't the only things driving the increase, though. Hint: it has something to do with roommates and dragons. Consumers this year are turning their attention and dollars to shopping for the home and for practical gifts. Holiday spending for home furnishings is expected to be up while spending on electronics such as televisions and entertainment systems is expected to be down. Comparatively, men's and women's apparel is estimated to rise only 2.49 percent.

Checks are the Rocky of the payments world. Even when faced with numerous payment competitors, checks keep hanging in there, again and again. They get little respect but almost every adult has a checking account. Their demise has been predicted for years, yet checks continue to be a popular, versatile, and affordable way to pay for merchants, consumers, and businesses.

October is National Cyber Security Awareness Month and, for individuals and businesses alike, cyber security is becoming more important than ever as we continue to add digital and mobile devices to our daily lives. While most people have some awareness of the need for online security, new research from the National Cyber Security Alliance (NCSA) has found that a surprisingly small number of users follow up-to-date best practices. Whether you are an online or offline retailer, individual or concerned parent, a visit to the NCSA's site, www.staysafeonline.org, will provide you with valuable information to shore up security along with some surprising statistics.

It's that time of year. Just as we start dusting off the Halloween decorations and ordering the heritage turkey, the forecasts for holiday retail sales start rolling in. Holiday sales this year are predicted to increase and many of the big retailers are putting in plans and setting up programs to make sure they capture the dollars. Cyber Monday is getting even more attention than Black Friday, and new electronics are sure to be a hit. With all this going on, how do you compete for your slice of the holiday pie?

Consumers hang on to checks as fiercely as they hang on to their smartphones. We're still writing checks, though their demise was predicted twenty years ago. Even with the increase in debit card use, about 90% of US adults have a checking account. In addition to paying bills, we still use checks to make person-to-person payments, pay the rent and the gardener, donate to social causes, present as gifts and shop. And now, with the emergence of new payment processing technology that simplifies depositing, such as mobile remote deposit capture, it could be that checks are here to stay.