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. 158, No. 218, November 15

Agencies' CRA Proposal Calls for Strict Yardstick
WASHINGTON - Regulators have agreed on a framework for Community Reinvestment Act reform that includes tough, objective standards to measure lending to people with low income, sources say. In a big victory for the industry, many community banks...
Big Banks Remain Bullish on Cash Management Services
NEW ORLEANS - Despite reports of flat revenues from cash management services, big banks are still upbeat about the business and are backing it up with multimillion-dollar technology investments. At the Treasury Management Association conference...
Bruises Inevitable When Naming a Merged Bank
With mergers, takeover, and buyouts still going strong, the question that regularly comes up is what to name the merged entity. This is often difficult to resolve. In fact, there have been several mergers that fell apart solely because of the inability...
Chase Launches Ad Campaign for Fliers' Visa
Chase Manhattan Corp. has begun a marketing campaign to attract frequent fliers to its four-month-old British Airways Visa program. The fourth-quarter effort involves print advertisements in 16 business magazines, offering up to 25,000 bonus miles...
Chemical Beats out BT for Recap of Personal-Care Products Maker
Chemical Bank was picked by Playtex FP Group Inc. to lead $575 million of new bank loans as part of a recapitalization of the Stamford, Conn.-based maker of personal-care products. The loans will be made to the company's Family Products subsidiary....
Chicago Considers ATM Legislation Making Security Measures Mandatory
The Chicago City Council has introduced an ordinance designed to improve security at the city's automated teller machines. The legislation would establish minimum lighting standards for selected ATM sites, while also placing new reporting responsibilities...
Court: RTC Must Prove Directors' Gross Negligence
WASHINGTON - Directors and officers at federally chartered institutions scored a huge legal victory last week. A federal appeals court said the Resolution Trust Corp. must prove directors and officers at failed national thrifts were grossly negligent....
Fed's Revised Prices for Check Clearing, Electronic Payments Spark Cries of 'Unfair.' (Federal Reserve Board Pricing Initiative)
Bankers are crying foul over new Federal Reserve Board pricing initiatives for electronic payment and check clearing services. While the individual initiatives taken early this month are seen as relatively insignificant, some bankers say they represent...
First Commercial of Arkansas Seals Acquisition of State First
Little Rock, Ark.-based First Commercial Corp., and State First Financial Corp., Texarkana, have reached a definitive merger agreement. First Commercial will exchange 3,367,308 shares of its common stock for all the outstanding shares of State First....
Fleet Sets Staff Bonus Tied to Efficiency, Stock Price
Fleet Financial Group has created a "phantom stock-option plan" to encourage employees to buy into its cost-cutting program. Fleet told about 20,000 employees that it will set aside money from them if the banking company improves its efficiency...
Gore Blocks Plan to Hold U.S. Liable for Theft of ATM Welfare Payments
WASHINGTON - Under pressure from Vice President Gore, the Federal Reserve Board on Friday postponed action on a plan that would extend consumer protection rules to people who use ATM and debit cards to receive government benefits. The Fed had been...
Harvest of Misleading Ads Spurred Ludwig's Warning
When the comptroller of the currency took banks to task for inadequate disclosure of mutual fund risks, many bankers were left with a question: What's the evidence? He simply looked in his own backyard, according to Leonora Cross, chief spokeswoman...
HUD to Propose Regulations Restricting Escrow Changes
WASHINGTON - The Clinton administration is about to unveil regulations that would reduce the escrow charges mortgage servicers may collect from homeowners. By setting clear standards, the Department of Housing and Urban Development would resolve...
More Banks Likely to Buy Fund Firms
If you can't build it, buy it. That's the principle guiding the banking industry's growing fascination with acquiring mutual fund companies. Mellon Bank Corp.'s aborted bid to acquire Dreyfus Corp., revealed last week, is just the tip of the iceberg....
Mortgage Fraud Goes Goes Tech as Forgers Turn to Laser Printers
Mortgage fraud had gone high tech. Criminals no longer rely on the steady hand of forgers to fool banks into issuing mortgages, according to Dick Ward, president of Guarantee Asset Protection Services, Canoga Park, Calif. Now they are using laser...
Norwest Makes a Case for Retail Expansion
Retail offices are the wrong way to go for mortgage bankers, because they are too costly to maintain when business slows down. Retail offices are the right way to go, because they permit close relationships with real estate brokers and builders...
Restructuring of the Banking Agencies: Obsolete Idea Is Gaining Ground in D.C
For some reason not altogether clear to me, restructuring the banking agencies is gaining momentum in Washington. It would seem we have more important things to address. For more than a decade, the banking industry's share of the financial services...
Seafirst Blazes Yet Another Trail with Self-Service Centers in Malls
SEATTLE - Seafirst Bank, long one of the industry's most sophisticated users of technology, is pushing the edge of banking's electronic envelope with a network of self-service centers. The Seattle-based subsidiary of BankAmerica Corp. has already...
SunTrust Aims for Fast Growth in Funds Business
Eighteen months after jumping into the mutual fund game, Sun Trust Banks has set its sights on the big leagues. The Atlanta-based banking company is planning a dramatic expansion in the coming year as it strives to strengthen its grip on the lucrative...
The Sky's the Limit in Creating Targeted Cards
There are four basic ways to translate knowledge about a customer segment's needs into a competitive advantage. The first is in the product design, which affords the opportunity to add the value that supports higher pricing. There is nothing quite...
Trust Officers Try to Shed Stodgy Image
SAN DIEGO - Trust officers have to get away from the vault to thrive today. That was the message that Jack Jackson, a former American Airlines executive who believes he knows something about industry change, delivered to trust executives attending...