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. 171, No. 188, September 29

3Q Outlook for Top Five: C&I Is the Driver
Large banking companies have struggled this quarter with weak mortgage-related lending, an inverted yield curve, and rising credit costs, but commercial lending probably was strong enough for their profits to rise, according to analysts. "The trick...
Banks Seen Jumping Directly to Unified Managed Accounts
CHICAGO -- Banks continue to lag behind wire houses and registered investment advisers in attracting assets to separately managed accounts, conferees here were told, but many are skipping SMAs and going right to the next generation -- unified managed...
Big Banks Lay out Case against FDIC Rate Plan
WASHINGTON -- The country's largest banking companies are taking issue with the Federal Deposit Insurance Corp.'s plan to institute new risk-based premiums, arguing that the minimum charge would be too high. The companies -- including Bank of America...
Countrywide's Suit Illustrates Exception Risk
Countrywide Financial Corp.'s suit against a group of companies and individuals it accuses of mortgage fraud includes an admission by the lender that it had waived its own underwriting standards on some of the loans involved. Exceptions are not...
Election Shadows Credit Union Relief
The Credit Union Journal This fall's congressional elections have clouded prospects for the Credit Union Regulatory Improvement Act, the regulatory relief bill crafted just for credit unions, as lawmakers prepare to pass pared-down regulatory relief...
Flagstar Leveraging Base in Commercial Loan Push
Flagstar Bancorp Inc. of Troy, Mich., is betting that it can use its nationwide home lending platform to ramp up in commercial lending. The $15.2 billion-asset company, which makes home loans in 26 states, said last week that it plans to start doing...
People
Shifting Fortunes It came as no surprise to Herb Sandler that he and his wife, Marion, dropped off Forbes magazine's latest list of the 400 richest people in the United States. Asked Tuesday about not making the list, which came out last week,...
Piper Jaffray Cuts Synovus, TSYS Grades
Piper Jaffray & Co. downgraded Total System Services Inc. and the processor's majority owner, Synovus Financial Corp. of Columbus, Ga. Andrew Collins and Steven Truong, two analysts at Piper Jaffray, lowered their rating on the $30.5 billion-asset...
PNC Changing Its Sheet Again to Prepare for '07
PNC Financial Services Group Inc. announced its second balance-sheet restructuring in less than a month. The $94.9 billion-asset Pittsburgh company said Thursday that when it reports third-quarter earnings next month it will report a $50 million...
Security Watch
Hospitals The Providence Health System, a nonprofit operator of health-care facilities in the Pacific Northwest, agreed to pay the Oregon Department of Justice $95,764 to settle its investigation of what The Oregonian calls the largest data breach...
Settling Disputes, PayPal to Reword Some Documents
PayPal Inc. said it has resolved two legal disputes regarding its user agreement and customer protection programs. The San Jose online payments subsidiary of eBay Inc. said Thursday that it had agreed to pay $3.5 million to settle a class action...
U.S. Processors Seek to Profit from Consolidation in Europe
U.S. card processors and network operators are hoping for an opportunity from the continent-wide payments system bankers in Europe are developing. The Sepa system -- for Single European Payment Area -- is scheduled to be in full operation by January...
Viewpoint: FDIC's Financing Needs Congressional Overhaul
My Viewpoint two weeks ago explained why the FDIC should retain its current risk-based deposit-insurance premium assessment system until it can implement a simpler system than what it has proposed. However, present law still will force the FDIC...
Viewpoint: Finding New Ways to Reach Underbanked
This month representatives from Citigroup, eFunds, Experian, H&R Block, and Wells Fargo sat down with me in Chicago for the first meeting of the CFSI's Innovators Roundtable, to discuss ways to work together, through shared R&D and pilot testing,...
Viewpoint: How to Minimize Risk of Tail-Event Damage
Tail events are the hardest components of a financial institution's risks to monitor and mitigate, yet they can be the biggest threats to an institution's well-being. Although the losses from these events are episodic and idiosyncratic, they can...
Viewpoint: Use Consistently High Standards for Web Security
This month the Payment Card Industry Data Security standard was updated for all organizations that handle credit card data. The revised standard, the first update to the almost two-year-old standard, offers mostly clarification but recommends that...