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. 159, No. 50, March 15

Activists, Financial Firms Collaborate on Credit Guide
When it comes to financial matters, the Consumer Federation of America is not teaming up just with American Express. In an alliance with Visa U.S.A., Citicorp, Household Bank, Chase Manhattan Corp., the National Consumer Law Center in Boston, and...
AMEX Link with Consumer Group Raises Eyebrows
A deepening relationship between American Express Co. and a prominent consumer group has some other credit card leaders buzzing about a case of strange bedfellows -- or worse. American Express and the Consumer Federation of America sponsored meetings...
Baltimore Bancorp's Unlikely Savior Packs Up
BALTIMORE -- Most businesspeople in this old-line city are Edwin F. Hale Sr. experts, because everyone, it seems, has an opinion on him. He's a homgrown hero. He's a bully. He's the consummate turnaround artist. He's an egomaniac. The...
Channeling Banks into TV Syndication
Loeb & Loeb, a New York-based law firm, thinks it can take foreign banks into television series financing. In a complex financial structuring the firm hopes will serve as a model for similar deals, Loeb & Loeb has helped a team at the Los...
Chemical Stock Soars after an Upgrade to 'Buy.' (Chemical Bank)
Chemical Bank shares rose Monday on an upgrade to "buy" from analyst Judah S. Kraushaar of Merrill Lynch & Co. He thinks the big New York bank's stock has reached bottom and could rise 50% by the end of next year, passing the $55 mark. "Chemical...
D.C. Mortgage Study: Blacks Twice as Likely to Be Rejected
WASHINGTON -- Banks in the nation's capital were twice as likely to reject a black home-buyer's mortgage application in 1992 as they were a white borrower's, according to a recently released mortgage lending study. The study, issued jointly last...
EDS' Mainframe-Based Retail Software Modified to Run on Tandem Midranges
In an effort to give a boost to a flagging bank software product, Electronic Data Systems Corp. has tailored the system to computers that are less expensive than mainframes. EDS quietly reached an agreement with Tandem Computers Inc., of Cupertino,...
Fannie's $1 Trillion Plan Wins Praise - and Criticism
WASHINGTON -- The Federal National Mortgage Association is likely to receive mixed reviews today after unveiling a plan to help fiance $1 trillion of affordable housing loans by the year 2000. The plan, which represents a 17% increse over the agency's...
Farmers of Miss. to Convert to Peerless Software
Farmers and Merchants Bank and its affiliate, Peoples Bank, have signed a five-year agreement with Peerless Systems to install the company's banking software. The Forest and Indianola, Miss.-based bank will convert from Jack Henry & Associates...
First Data Taking over Card Center in Oklahoma as USAA Moves Out
First Data Resources is taking its service for USAA Federal Savings Bank to a new level. First Data agreed to take over the Tulsa, Okla., credit card center that USAA is vacating, and to offer jobs tw the employees who are not relocating to San...
First Pacific Renews Processing Pact with Systematics
First PacificNational Bank, Escondido, Calif., has renewed its long-term data processing agreement with Systematics InformationServices Inc. Under the new contract, the Southern California community bank will convert its processing to Systematics'...
Fleet Unit Will Lose 15% of Staff as Part of Corporate Restructuring
Fleet Financial Group's top investment services executive said he plans to trim his 2,000 person work force by up to 15% as part of the banking company's massive restructuring. Richard H. Jones, president of Fleet Investment Services, said Monday...
Glenfed Mulls Further Ways to Shore Up Its Capital Base
SAN FRANCISCO -- Seven months after compelting a massive equity infusion, ailing Glendale Federal Bank is again taking steps to bolster its capital position. The Glendale, Calif.-based thrift said late Friday that it had formed a special committee...
Intervoice Wins Contract with Big Midwest Bank
Intervoice, a leading provider of voice-response systems, announced last week that it signed a contract worth nearly half a million dollars with a major midwestern bank. Intervoice officials declined to identify the bank because of a confidentiality...
Later in Life Cycle, Wealth Preservation Is Paramount
The first part of this article, focusing on life-cycle marketing strategies for the early and middle years of life, appeared Monday. In the later stages of the financial life cycle, individuals have accumulated significant pools of wealth. They...
Lenders Say 15-Year Fixed-Rate Loans Have Lost Luster with Rates Upswing
One of the hottest mortgages of the past two years is suddenly cooling off. Lenders report that the 15-year mortgage is no longer "loan of the moment." At the height of the refinancing boom, 15-year fixed loans were prized for quicker amortization...
Regulators Tell How They'll Spot Subtly Biased Lending Policies
Last week, financial regulators released a joint statement on lending discrimination, which answers a number of industry questions on how fair-lending laws will be enforced. The document also reviews three types of discrimination that the agencies...
Risk Capital Standards Do Not Reflect Either Real Risks or Real Capital
Regulators seek to con strain banking risks by tying capital requirements to different asset categories. The new centerpiece of risk control-risk based capital standards, or RBC- nevertheless further separates capital requirements from capital's...
Thrift Fund Dead without Bank Dollars, Panel Says
WASHINGTON -- A private-sector advisory group has concluded that a merger of the deposit insurance funds is the only way to rebuild the Savings Association Insurance Fund without taxpayer dollars. In a report to Congress on Monday, the SAIF Industry...
USAA Sues Merchant to Recoup Card-Fraud Losses
USAA Federal Savings Bank has filed what it calls a landmark lawsuit against a car rental agency That, the suit claims, cost USAA nearl~ $1 million in fraud losses. The consumer banking subsidiary of United Services Automobile Association in San...
U.S. Bancorp Tapping Trust Assets for Funds; $1 Billion Worth Set for Conversion
$1 Billion Worth Set for Conversion Proceeding with plans to create a family of retail mutual funds, U.S. Bancorp is preparing to convert nearly $1 billion of trust assets into funds. The new mutual fund family, likely to be dubbed the Qualivest...
Utah's 1st Security Buying Crossland of Salt Lake
First Security Bank of Utah has joined the parade of banks buying mortgage businesses, agreeing to purchase Crossland Mortgage Corp., Salt Lake City, for $112 million. First Security will also assume about $220 million in debt, bringing the value...