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. 166, No. 87, May 7

Anticipating Trends in Serving Small Businesses
Ten years ago most banks considered the small-business market an adjunct to their core retail or, more often, commercial businesses. In the decade since then, the approach to serving small businesses has fundamentally changed, the competitive landscape...
Bank of America Pursuing 3-Model Branch Experiment
Bank of America Corp. is taking another page from retailing with the test of a "prototype market" carved out from its Atlanta network. The Charlotte, N.C., company has slated 20 branches for renovation according to three test models: high-tech,...
Bank Programs Target Women Biz Owners
In an effort to capture an underserved yet lucrative segment of their customer base, more banks are initiating or expanding programs that target women business owners. "It's a growing market segment that all financial institutions should be recognizing,"...
Banks Focus on Minority Merchants
When small-business customers enter International Bank of Commerce in Laredo, Tex., around Easter they'll find pan dulce, a traditional Mexican sweet bread to munch on while waiting to speak with their banker. And when Independence Community Bank...
Basel Panel's Guidelines for E-Banking
The Basel Committee on Banking Supervision has issued guidelines for electronic banking that emphasize how traditional risks translate into the cyber world. Electronic banking did not create risks but "increased and modified some of the traditional...
Brokat Builds Wireless and Internet Channels
Charter One Financial Inc. has made an unusual choice: Instead of hiring a vendor to build a stand-alone wireless account access service, it hired a German company little known in this country to build a wireless service and an Internet banking service...
Editor's Note
In this Retail Delivery special report, American Banker looks at how banks are serving small business customers. The theme that keeps appearing throughout most of the articles is the importance entrepreneurs place on receiving high-quality customer...
Entrepreneurs Want Speedy Bank Service
When you ask entrepreneurs what they're looking for from banks, quality service from experienced business bankers usually tops the list. Small-business owners appreciate good service from their financial institutions and are usually willing to...
Executive Changes
MIDDLE ATLANTIC Mellon Private Asset Management in Pittsburgh has named first vice president Amy S. Millman a national business team sales officer. Ms. Millman, who was a senior business officer, sells to nonprofit organizations that have charitable...
Federal Regulators Should Return to Gramm-Leach-Bliley's Intent
When Congress passed laws in 1999 to ease Depression-era restrictions on financial services providers, it wanted to promote competition among banks, securities firms, and insurance companies. By allowing all three to own one another, the legislators...
Fed's Check-Fee Proposal Well Intended, Badly Aimed
Ready. Fire. Aim. The Federal Reserve Bank is considering assessing a $50 fee against all checks of more than $10 million starting July 1 and against all of more than $1 million starting next year. The stated purpose of this fee is to encourage...
FleetBoston Exec: Big Bank Suits Small Business
Norman J. DeLuca knows something about meeting the needs of small- business owners. For nearly four years, he has been managing director of Small Business Services, a unit of FleetBoston Financial Corp. Last year, FleetBoston was designated by the...
Four Approaches to Online Financial Services
Despite the slowdown in the Internet economy, opportunities for companies that provide online financial services to small businesses remain strong, industry analysts and insiders say. "It's still a white-hot market out there, with lots of business...
From Fed, 274 Pages on Affiliate Transactions
The Federal Reserve Board issued a passel of rules and proposals last week designed to simplify regulation of banks' transactions with their affiliates -- an area of increasing concern in the post-Gramm-Leach-Bliley world of financial conglomerates....
Goldman Aims to Pump Up Units' Volume
Goldman Sachs Group Inc.'s plan to deliver investment products and research to more than a dozen regional brokerage firms is founded upon the investment bank's desire to increase order flow to trade-execution firms it has bought over the past two years....
Hawke Has a Pal
Though Senate hearings and confirmation votes must still take place before Texas community banker Donald E. Powell becomes chairman of the Federal Deposit Insurance Corp., industry sources are already speculating about how his presence could affect...
Identrus Sees Big Lift from Microsoft Deal
The digital certificate consortium Identrus LLC and Microsoft Corp. are to announce today an initiative that could go a long way toward getting more of the consortium's 41 bank members set up for electronic identity authentication. So far only six...
InterCept Gets Key Deal Just Ahead of 1Q Report
InterCept Group Inc. further stoked enthusiasm for its first-quarter earnings results, to be released today, by announcing on Friday that Bisys Group Inc. had agreed to offer the Norcross, Ga., company's outsourced check imaging services to its bank...
Metiom Enlists Banks as B-to-B Partners
When Chris Wagner looks at the legions of small businesses still pushing paper to purchase office supplies and services, he sees an untapped Internet marketplace. The key is to convince these companies to conduct such business online and reap the...
MetLife Misses Estimates but Ready for a Rebound
Share of MetLife Inc., which took a dive in mid-March, are ready for a rebound, argues analyst Jeff Schuman at Keefe, Bruyette & Woods. Mr. Schuman upgraded the stock to "outperform" from "market perform" on Friday, arguing that an upcoming...
Metris Given $3.2M Bill in Bad Mailings
The Office of the Comptroller of the Currency has ordered the credit card-issuing subsidiary of Metris Companies Inc. to pay $3.2 million in restitution to 62,000 people who regulators say were victims of "downselling," in which they were promised...
More Suits Challenge 1% Currency Fee on Cards
A series of lawsuits against Visa International, MasterCard International, and several large credit card issuers allege that consumers who use their credit cards abroad are surreptitiously being charged currency conversion fees, in violation of the...
MountainBank Climbs Fast in N. Carolina
MountainBank in Hendersonville, N.C., refuses to act its age. Four years old next month, MountainBank cracked the $300 million-asset barrier in the first quarter and had net income of $505,000 in the three months, up 111% from the year-earlier period....
Owning a Smart Card Interests Few
About two-fifths of U.S. consumers have heard of smart credit cards, but far fewer have any interest in owning one, according to a recent survey by Synergistics Research Corp. of Atlanta. "Awareness is off to a good start, with Blue leading the...
Predator Penalties Put Credit Providers at Risk
Regulators and consumer activists fighting predatory lending face a dilemma: how to extract restitution on behalf of borrowers while ensuring that the lenders survive long enough to pay it. Their concern is shared, to some degree, by the financial...
Preferred Issues: Bank Execs Have Learned the New Rules about Deals
Do actions speak louder than words? If so, then G. Kennedy Thompson should ease up and enjoy the reception First Union Corp.'s merger deal with Wachovia Corp. got on Wall Street. The response may have sounded like the new chairman and chief executive...
Scalpel Works Better Than Ax to Boost Commercial Banking Perfarmance
In light of the poor near-term economic outlook, senior line and finance managers industrywide are focusing on productivity and cost reduction. Rather than choosing to make across-the-board cuts, smarter banks will carefully focus their search for...
Southwest Community Bets on Check Processing
A $94 million-asset bank in the San Diego suburbs is making a name for itself in a line of business still considered the territory of big banks: check processing. Four-year-old Southwest Community Bank in Encinitas, Calif., is the founder and majority...
Translating Customer Service to the Front Lines
Banks have spent billions of dollars over the years gathering mountains of data on their customers. But for all their talk about customer relationship management, most banks have trudged along on the CRM front with structures that emphasize technology...
Web Bank for Newly Rich Profitable in Just a Year
Though the online banking landscape is littered with dozens of failed niche players, some have achieved success by finding proven hot markets and catering to them. One-year-old VirtualBank in North Palm Beach, Fla., for example, sells investment...
Why Should Fed Use E-Sign to Replace Disclosure Laws?
In the spring of 2000 banks focused on the need for legal certainty for Internet transactions. The result was the enactment of the Electronic Signatures in Global National Commerce Act on June 30. E-Sign was intended to provide legal certainty for...
Will Increased Savings Touch off a Recession?
Economists generally agree that the slowdown could boost savings, a potential boon for banks -- but it might also reduce demand for bank loans. Robert W. Strand, a senior economist at the American Bankers Association in Washington, said last week...