ABA Banking Journal

Founded in July of 1908, ABA Banking Journal online contains the complete text of ABA Banking Journal, a monthly magazine on commercial bank operation and management published by Simmons-Boardman Publishing Corp. Articles cover employee relations, recruiting and training. Subjects in the magazine also include installment, mortgage, commercial, and industrial lending as well as correspondent, foreign, and retail banking; deposit gathering; bank cards; asset and liability management; data processing and telecommunications; security; government relations; and legal and regulatory developments. The publication also provides a calendar of ABA-sponsored courses, seminars and workshops. William W. Streeter is the Editor-in-Chief and Robert DeMarco is the Group Publisher/Senior Vice President. Steve Cocheo is the Executive Editor and Andrea Rovira is the Editorial Assistant.

Articles from Vol. 97, No. 8, August

Are the 12 Federal Reserve Banks Still Relevant?
Now that the Federal Reserve System is cutting its back-office operations in half, could more Fed functions soon be consolidated? Maybe. But would that include the combination or elimination of some of the 12 district banks in the Federal Reserve System?...
Avoid the "Contract from Hell," and Other Third-Party Pitfalls
History and literature are full of written agreements that didn't necessarily involve the fairest of relationships. The Magna Carta was signed by the English Crown at the insistence of nobles backed by armed men. The Declaration of Independence...
Branch Building Spree: Hitting Saturation? Once upon a Time, the Branch Was Proclaimed as "Done For." Then, the Proclaimers Realized That Branches Were Important to the Customer. but Even Some Customers Are Beginning to Wonder-Is the Industry Engaging in Overkill?
SEEMS THAT YOU CAN'T STROLL DOWN THE BOULEVARD of a typical city--or drive through the suburbs--and not be struck by it: branches are everywhere. Competitors are facing off. Sitting pillar to ATM, they share a block or are a stone's throw away. ...
Data Security: Behind the Headlines
THE TRUST OF OUR CUSTOMERS IS the single most important asset we have as an industry. When it comes to securing peoples' financial information, there are no half-way measures. All bankers, I'm convinced, understand this and work hard to protect their...
Economy Now in the Goldilocks Zone
AFTER A TWO-YEAR PERIOD OF rapid growth, the U.S. economy will slow to a more sustainable pace, the ABA Economic Advisory Committee (EAC) said at its bi-annual meeting held at the end of June. "The economy has entered the Goldilocks zone--not too...
Former Fair-Lending Prosecutor Looks at the New HMDA
Fifteen years ago, lenders whose federal loan data seemed to indicate that they weren't treating minority borrowers just as they treated white borrowers in the credit evaluation process were accused of redlining. "If it's not redlining, prove it,"...
Home Equity Change in Terms
Q. Is it permissible for a bank to add an annual fee to an existing home equity product if the fee is not covered in the original contract? A. Paragraph 5b (f) (3)(v), of 12 CFR 226, states: "1. Insignificant changes. A creditor is permitted...
Interaction Analytics: Using Transaction Analytics to Improve Marketing and Customer Management Decisions
Of the 1.2 billion credit card solicitations mailed in the first quarter of 2004, only 0.4% resulted in response, compared to 0.9% one year ago. Similarly, in traditional cross-selling to existing customers, the financial services industry has seen...
Marketing Technology: The Secret to CRM Success Isn't in the Computer
Technology is not what will make or break the success of a modern CRM system. Instead, it is the commitment of a rank's senior management to providing exceptional customer service that will determine the system's success. With this commitment, there...
Offset Mortgages Popular Elsewhere, but Here?
A mortgage that seems to let borrowers "have their cake and eat it" is growing in popularity worldwide. Variously known as an "offset" or "single account" or "current account" mortgage, it reduces the amount owed on a consumer's mortgage by the...
Pass the Aspirin
The ubiquitous laptop! So much in so small a package, and therein lies the problem. More costly than many desktop computers, they pack an entire office into a tiny box. Some community bankers "live" out of their laptops. Which is fine unless...
Prepaid Phone Top-Ups Available at ATMs
In Europe and Latin America, the dominant type of cell phone payment plan is prepaid. In the U.S., where postpaid plans dominate, the prepaid market is nevertheless growing and currently numbers about 20 million users who collectively account for about...
Real Life "Wonderful Life": In the Depths of the Great Depression, a Community Bank Comes Back from the Brink through the Cooperative Efforts of Its Community, Officers, and Owners
Almost everyone knows about George Bailey, the banker (played by Jimmy Stewart) whose building and loan was miraculously saved in the ever-popular Christmas film "It's a Wonderful Life." Few people know that something similar actually happened in East...
Regions Financial's Quest for a Business-Aligned IT Organization
John Dick, executive vice-president and CIO, at Birmingham, Ala.-based Regions Financial Corp. was hired in 2001, to bring new clarity to the IT operation of an institution that had galloped into super-regional size over a decade of M&A. Over...
SOX Gone Silly: Sarbanes-Oxley Issues That Make CEOs Mad: Washington Says Most SOX Compliance Costs Are a One-Time Burden, but Community Bankers Believe SOX Is a Law That Will Keep on Hurting
There is very little amusement to be found in the Sarbanes-Oxley Act. But Ron Walko did get one grim chuckle out of it, one of those grudging laughs one squeezes from an otherwise very bitter lemon of a law. Walko's Jersey Shore State Bank (through...
The Branch Boom in Miniature
FOUR NEW BANK BRANCHES along a half-mile stretch of road in less than a year gets people's attention--especially when the last new branch to open there was at least ten years earlier. As mentioned in the cover story, yours truly has been asked by...
Wachovia Launches Web-Based Loan Origination System
In a move it says will double productivity in its lending operations within two years, Wachovia Mortgage has implemented the Impact Mortgage Services Suite, a web-based mortgage fulfillment system from New Jersey-based Palisades Technology Partners....
What's in a Name? Quaint Oak Savings Bank, Southampton, Pa
Quaint Oak Savings started as a state-chartered and privately insured building and loan association in 1926. In that era, the Philadelphia area, which includes Southampton, was no stranger to building and loans, says Robert Strong, current president...
Why Banks Are Missing the Retirement Boom: And More Importantly, What They Can Do to Get in the Game Now
It is virtually impossible for a week to go by without reading about the aging baby boomers' march towards retirement and the large opportunity this trend creates for financial service providers. Similarly, banking publications are peppered with articles...