Holiday shopping is drawing near and many people will likely be charging items...but have you checked your line of credit lately?

In the last few weeks, many major banks have cut, in some cases slashed, both lines of credit to customers as well as overdraft fees.  In response to what's happening on Wall Street many banks are concerned about the number of people who might default on their credit cards or mortgages.

"So that's why they're saying you have availability over what you've drawn down on and we're saying  we really can't let you have that availability," says George Hamlin, president and CEO of Canandaigua National Bank.

Canandaigua National Bank and Trust is a community bank which has not been affected by Wall Street’s tumble and as a result, has not made any cutbacks to its lines of customer credit.

"We are not affected by anything on Wall Street, by anything happening in Congress because we're here in this community, our deposits are in this community, our loans come from this community," says Hamlin.

If you do bank with a larger, chain the best thing you can do for yourself right now is to be responsible. Contact your bank and check your overdraft line as well as your lines of credit.

"So, when they mail you something, you'd better open it to make sure what it is," says Hamlin.

Consumers can also take control of their finances in another way; Hamlin says this odd economic time is really the perfect time to shop for a new bank.

"Right now is a very, very good time to shop around because now you know who's in business and who's not in business," says Hamlin.