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. 174, No. 66, April 7

A Servicer Seeks Edge in Diversity
Byline: Kate Berry Unity Financial Services LLC, a start-up that specializes in working out soured mortgages and unloading repossessed properties, is hoping its ties to a minority-owned bank will help it win business with government-related entities....
Banks' Rally Peters out in Advance of 1Q Reports
Byline: Katie Kuehner-Hebert Bank stocks retreated Monday as investors took gains ahead of what some fear might be weakness to be displayed by financial companies that announce quarterly results this month. The KBW Bank Index fell 3.83%, after...
Fed Official Says Crisis Is a 'Panic'
Byline: Steven Sloan WASHINGTON - The financial turmoil is so severe that a top Federal Reserve Board official resurrected a word Monday that has not been used to describe markets for more than a century: "panic." In a speech to the Council of...
Fed's ACH Outreach Goes Global
Byline: Steve Bills ORLANDO - With the world's payment systems becoming more tightly linked, the Federal Reserve Board is expanding its international automated clearing house capabilities. Several services the central bank unveiled Monday demonstrate...
Fresh Online Applications Cater to Smallest Firms
Byline: Daniel Wolfe Banking technology vendors are developing applications that financial companies can offer to their smallest business customers, a market segment bankers say is underserved by most products. S1 Corp. announced Monday that...
New Powers Mean New Questions for FDIC; Some Fear a Loss of Focus, Independence as Duties Multiply
Byline: Joe Adler WASHINGTON - The Federal Deposit Insurance Corp.'s growing involvement in efforts to rescue the financial system is raising concerns that its core mission may be blurred. The agency's role has greatly expanded as the Treasury...
Old Second Slashes Away: Jobs, Expenses, Dividend
Byline: Robert Barba With its credit problems deepening, Old Second Bancorp Inc. of Aurora, Ill., is slashing expenses and its dividend in an attempt to return to profitability and boost its tangible common equity ratio. But analysts said the...
Prepaid Account Offers Mobile Banking Service to Immigrants
Byline: Will Hernandez Denarii Payments Inc. of Atlanta has developed a mobile phone-linked prepaid product called SizzleMoney that is initially targeting Hispanic immigrants. People can use the productto send one anothermoney by text message,...
Should Banks Be on Both Sides of Asset Program?
Byline: Cheyenne Hopkins Banks will clearly be sellers in the Treasury Department's new program to clear toxic assets, but will they also be buyers? The question is provoking plenty of hand-wringing, and the Treasury has yet to release the fine...
Treasury Targets Loan Mod Scams
Byline: Emily Flitter WASHINGTON - As the Obama administration continued to hammer out details of its foreclosure prevention program with major banks, the Treasury Department on Monday unveiled a coordinated plan to thwart loan modification fraud...