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. 169, No. 59, March 26

Activists Demand Forum on JPM-Bank One Deal
It's been almost two weeks since the Federal Reserve Board stopped taking public comments in J.P. Morgan Chase & Co.'s application to buy Bank One Corp., and community lending activists are railing over the Fed's failure thus far to schedule public...
Ameritrade, New to Adviser Channel, Hones Edge
Ameritrade Inc., a well established online brokerage firm, says it is targeting investment advisers, large and small, to develop assets and build wallet share and is making rapid progress because of a big pricing advantage. "We have the advantage....
Better Wachovia Outlook Credited to Market Strides
Analysts have been raising 2004 profit estimates for Wachovia Corp. over the past week, citing stronger market-related businesses and signs that net interest income is improving. Denis Laplante of Keefe, Bruyette & Woods Inc. added 8 cents to...
Comity Central: Financial Panels' Bipartisan Bonds
In one of the most polarized congressional sessions in recent history, the Senate Banking and House Financial Services committees stand out as exceptions to the partisan rule. Though the top Republican of each committee would seem to be an ideological...
Debating Preemption, OCC and N.Y. Officials Admonish Banks
New York's state banking superintendent, Diana L. Taylor, and the Office of the Comptroller of the Currency's first senior deputy, Julie L. Williams, took opposing views on federal preemption Thursday. But in their prepared remarks at the New York...
Downey to Lose In-Store Sites
A grocery chain's decision to close its underperforming stores in southern California has sent Downey Financial Corp. scrambling to find new locations for five branches. The in-store branches collectively have $106 million of deposits. The $12 billion-asset...
Enforcement Trends: Criminal Charges and State Participation
Regulators completed about 544 actions in 2003 to enforce a variety of federal banking laws, as well as the Gramm-Leach-Bliley Act, the USA Patriot Act, and the Sarbanes-Oxley Act. The Office of the Comptroller of the Currency initiated 403, the...
Federal Standard Can Help Lenders
Perhaps no experience in America more reflects how much we have changed in the past 20 years than buying a home. The options available for home financing are as diverse as our population and reflect the willingness of our country's financial services...
How Cards Finally Won Reluctant McDonald's Over
McDonald's Corp.'s announcement Thursday that it will accept nearly all the major payment brands marks a long-sought conversion of one of the last holdouts in card acceptance. The decision by the Oak Brook, Ill., company to push Visa, MasterCard,...
Legislators Want Treasury to Do More
House lawmakers on Thursday called on the Treasury Department to examine banks for money laundering compliance, recommend that Congress extend the federal terrorism insurance program, and monitor European Union regulation of U.S. financial services...
Letters to the Editor
Are We Asking The Wrong Questions About ACH? To the Editor: Asking the most interested automated clearing house operators if they want more out of ACH is kinda like asking kids in a candy store whether they want more candy, isn't it? ["Debating...
OCC Plan Seeks to Help Consumers LinkBanks, Subsidiaries
The Office of the Comptroller of the Currency said Thursday it is considering requiring national banks to disclose annually which of its operating subsidiaries do business directly with consumers. The OCC would then assemble the disclosures and...
OCC's Preemption Efforts Help Uphold the Constitution
Julie Williams, the second in command and chief counsel of the Office of the Comptroller of the Currency, is perhaps the bank regulatory agencies' leading defender of preemption. Bankers should read the speech she delivered March 9 at an America's...
People
Taking a Bigger Bite Ken Lewis is no stranger to New York. His Bank of America Corp. expects to wrap up its $46 billion acquisition of FleetBoston Financial Corp. next week. The deal would add roughly 80 retail branches in the Big Apple to B...
Receivership Looms Larger as Obstacle to GSE& Bill
A fight over a power that most observers believe a proposed new regulator for the government-sponsored enterprises will never need or use is threatening to wreck the chances for a bill to revamp the companies' supervision. A second industry group...
Shareholder Seeks Board Ouster at ComBanc of Ohio
A longtime shareholder of ComBanc Inc. is trying to rally others behind his bid to replace the board of the troubled Delphos, Ohio, company. Paul D. Harter said in a March 10 Securities and Exchange Commission filing that he plans to offer an alternative...
The New Fee No One Wants- but Nacha
If you want to complain to Nacha, The Electronic Payments Association, about its proposal to impose fees on originators of bad automated clearing house transactions, you're going to have to get in line. It's not that Nacha, which held its annual...
WIC Cards Now Leaning Back to Magnetic Stripe
The Food and Nutrition Service, which administers Women, Infants and Children benefits for the federal government, plans to test two magnetic stripe programs in its search for a more efficient alternative to smart cards. The first pilot program...
Wis. Group Touting Benefits of High School Basketball Ads
The Community Bankers of Wisconsin have again teamed up to advertise on television, a medium that is too costly for most small banks' budgets. The trade group paid $75,000 to sponsor the Wisconsin Interscholastic Athletic Association's boys and...