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. 168, No. 195, October 9

A Downbeat Day for Comerica and Wells
Less than a week before Comerica Inc. and Wells Fargo & Co. are scheduled to report third-quarter earnings, two investment banks have changed their outlook on the companies. First Tennessee National Corp.'s FTN Financial lowered its full-year...
Baker: Blame for Reform Bill Delay Belongs with GSEs
After the postponement of a House Financial Services Committee meeting to consider GSE reform legislation, Rep. Richard H. Baker, who chairs the capital markets subcommittee, issued a statement in which he blamed Fannie Mae and Freddie Mac for the...
Canadian E-Pay Processor Seeks U.S. Banks as Partners
A Toronto electronic bill payment service provider is poised to expand in the United States by signing agreements with several major banks here this month. Use My Bank Services Inc. has developed a service that uses banks' electronic bill-pay systems...
Citi: Mexico Remit Account Just a Gateway
Citigroup Inc. says the idea behind its new card-based money-transfer product in Mexico is not to snag dollars in the brisk money-remittance business but rather to groom long-term Citi customers. Several large U.S. banking companies, including Citi,...
Executive Changes
NEW ENGLAND Bar Harbor Bankshares of Maine has hired James A. Macleod as the president of its BTI Financial Group. The subsidiary offers trust and estate planning and brokerage services through its three units: Bar Harbor Trust Services, Block...
Fingers Point as Hopes Dim for GSE Bill
The wheels have come off a bill to overhaul regulation of Fannie Mae and Freddie Mac that was speeding to enactment as recently as two weeks ago, and it is unclear if lawmakers will be able to put it back on track this year. House Financial Services...
Legislative Update
ACTION ON LEGISLATION Fair Credit Reporting Act HR 2622 (Senate bill number not yet assigned) The Senate Banking Committee on Sept. 23 approved by voice vote the National Consumer Credit System Improvement Act. The measure would update...
Little Growth, Much Noise in Regional Outlook
Third-quarter earnings reports from regional banking companies are expected to be messier than the previous quarter because of special charges, but the sluggish revenue growth trend continues. Comparisons to last year and to the second quarter will...
MC Pitches Objective Research; Anyone Buying?
In its 2002 annual report, MasterCard International says, "We want to be our customers' best business partner -- period." But it would like its customers to pay extra for advice and market research that goes beyond the basics. This past spring...
Pipeline
One More Chance The refinancing boom may be ending, but it is taking its time. The Mortgage Bankers Association said Wednesday that its market composite index, which measures applications for home purchase loans and refinancings, jumped 15.6%...
RBC Tailors Services to Canadian 'Snowbirds'
As Royal Bank of Canada expanded into the Southeast in the past two years, its managers were thinking about a way to take advantage of the annual southward migration of thousands of Canadians fleeing winter. On Wednesday the $300 billion-asset Toronto...
Regulators Tell CPAs Loan-Loss Proposal Should Be Jettisoned
Federal regulators are insisting that the American Institute of Certified Public Accountants drop a lingering proposal to overhaul guidance on how banks account for loan-loss reserves. "As principals of the agencies entrusted by Congress with responsibility...
Regulatory Roundup
OPEN FOR COMMENT Capital Standards A proposal by the banking and thrift agencies to permanently allow banking companies to exclude asset-backed commercial paper and securitizations with early-amortization provisions from calculations of their...
Rival Execs Become Keys to N.C. Bank's Recovery
Capital Bank Corp. and MountainBank Financial Corp. opened their doors around the same time in 1997 but with dissimilar strategies: MountainBank was all about organic growth while Capital focused on acquisitions. In the past six months the North...
Scandal Responses Seen Multiplying D&O Risks
Recent concerns over corporate governance, changes in exchange rules, and the Sarbanes-Oxley Act of 2002 have combined to create a "brave new world" of directors and officers liability issues, says a lawyer who defends companies against shareholder...
Treasury: FCRA Bills Need Work
With the Senate moving toward a vote this month on legislation to update the Fair Credit Reporting Act, the Treasury Department is calling for adjustments to it and a similar House-passed measure. "Each of the bills requires some refinements," Treasury...
Will New FHLB Losses Add Momentum to Shelby Plan?
Two of the nation's 12 Federal Home Loan banks said Wednesday that they will report third-quarter losses, adding to the controversy surrounding the government-sponsored housing enterprises. The Home Loan banks in Atlanta and Pittsburgh blamed the...