American Banker

American Banker is a Monday to Friday daily trade newspaper owned and published by SourceMedia, Inc. American Banker is headquartered in New York, N.Y. and was first published in 1836. Readers of American Banker are primarily high ranking banking executives and those with billions of dollars in assets. Seventy percent of American Banker readers hold senior management positions and 66 percent come from financial institutions, with 55.8 percent of those working in the commercial and retail banking sectors. Twenty-one percent of the readership control assets totaling $50 billion and above. The newspaper is published across the United States.In the 1960s, then-editor William E. Zimmerman traveled around the United States reporting on the civil rights movement by asking African-Americans what they needed from the banking industry and in turn interviewing local bankers to find out what services they were providing for African-Americans.In 1988, American Banker reported that the Japanese have the 10 largest banks in the world and that the U.S. banks, for the first time in three decades, were knocked out of the top 25 due to the falling dollar. Citibank, the largest bank in the U.S. at the time, fell from the 17th largest bank in the world to 28th, with $101.1 billion in deposits.American Banker was also the first national publication to report extensively on the fall of Penn Square Bank in Oklahoma City. Marc Hochstein is the Executive Editor, John DelMauro is the Vice President and Group Publisher, Richard Melville is the Group Editorial Director, Banking, and John DeCesare is the Group Publisher.

Articles from Vol. 163, No. 204, October 13

Bankers Fear Loss of Ability to Offer Both Visa, MasterCard
One of the intriguing aspects of the antitrust lawsuit against MasterCard and Visa-and a disconcerting one to credit card bankers-is the Department of Justice's revival of an old war. The government wants to revisit and presumably eliminate the rules...
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Banks Have Hard Time Recruiting as Many Compete for Sales Agents
As banks build up their insurance operations, they are finding it difficult to recruit sales agents. In general, bank insurance jobs take more than two months to fill and banks have had to adjust salaries in the past 18 months to compete, said Caryn...
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Banks Hit Proposed Credit Union Membership Rules
When President Clinton signed the credit union bill into law two months ago, some bankers felt the industry had hit rock-bottom. Then the National Credit Union Administration issued the first two of six proposed rules that would implement the new law....
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Banks Strike out; Reform Looks Dead for This Year
The prospects for enactment of any major banking legislation this year have all but died, lobbyists and Capitol Hill sources said Monday. Congress took no action on the financial services or bankruptcy reform bills over the weekend, and lawmakers were...
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Bank Stocks and Broader Sectors Reclaim Some Ground in Slow Trading on Holiday
Investors bid up financial institution stocks during much of Monday, but larger banks ended up losing ground in a late-day selloff by hungry profit-takers. BankAmerica Corp. dropped $1.0625 a share, to $52.8125; Citigroup, 56.25 cents, to $34.875; and...
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Credit Watchdogs about to Be Tested
The once-fearless stock market is now unnerved - as are many investors and bankers. Most predicted a market correction, but few expected it this fast and with such ferocity. Bank stocks have been hit particularly hard. While the Dow Jones has fallen...
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Hawke's Confirmation as Comptroller Is Stalled by Maryland Democrat
Sen. Paul S. Sarbanes is blocking the confirmation of John D. Hawke Jr. as comptroller of the currency. If the Treasury official is not confirmed before Congress adjourns at midweek, President Clinton could make a temporary appointment that would allow...
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Lower Prime Putting a Squeeze on Smaller Banks
The recent cut in banks' prime lending rate is taking its toll on some community banks' revenues, squeezing already tight margins. D. Linn Wiley, president and chief executive officer at CVB Financial Corp. in Ontario, Calif., said that, with half of...
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Moody's Foresees a Shakeout in Loan Insurance Business
Mortgage insurers are headed for a downturn, Moody's Investors Service warns. Increased competition may lead the insurers to consolidate, the New York bond rating agency said in a report released last week. "We're at the top of the cycle for the industry,"...
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National Banks Face Battles with State Regulators
A wave of court decisions allowing national banks to sell insurance continues, but it looks like the dispute is far from over. More state insurance commissioners are expected to try to enforce state restrictions on insurance sales powers granted by...
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One Way or Another, Good Deeds Pay Dividends
Do community banks provide unusual service to their communities? You bet! Our second appeal for stories brought important and often unusual responses. Several respondents told how their banks pitched in when disaster struck. First Knox National Bank...
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Small-Business Could Be Next Problem Area
Small-business lenders are not adequately factoring risk into their underwriting, a Wells Fargo & Co. executive warned. "If they don't get smart about small-business lending, this could be the next problem area," said Michael R. James, executive...
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Top 100 Banks Lost Nearly A Fourth of Market Cap
The market value of the nation's top 100 banks, after hitting $1 trillion at midyear for the first time, plummeted 23.3% during the third quarter as investors focused their global economic fears on the financial sector. The slide broke a string of 14...
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Wall Street Warch: Temporary Setback Seen for Mortgage Securities
The chairman of BlackRock Inc. sounded a cautionary note about the mortgage-backed securities market. "The de-leveraging going on right now"- the unloading of mortgage securities by hedge funds-could mean a relatively lean year for compensation, said...
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