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. 165, No. 49, March 13

2 ATM Rivals to Push Use of Debit on Web
Star Systems Inc., which runs the largest debit card and automated teller machine network in the country, will announce today that it has licensed an Internet debit card payment system developed by an East Coast competitor, NYCE Corp. The pact may...
Banks Have Two New Web Insurance Sales Conduits
Two companies -- Quotesmith.com and software firm Concentrex Inc. -- are developing plans to help banks sell insurance through the Internet. Quotesmith.com Inc., which provides instant quotes and sells insurance, says it wants to set up links to...
Belvedere Planning New Fund for Bank Acquisitions in West
SAN FRANCISCO - With its $80 million purchase of Sacramento (Calif.) Commercial Bank two weeks ago, Belvedere Capital Corp. has depleted its $160 million community bank acquisition fund. But instead of taking a breather after more than two years...
Bill to Conglomerate Regulatory Agencies Facing a Tough Fight
A bill that would combine the regulators of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks faces an uphill battle, despite endorsement from House Banking Committee Chairman Jim Leach and others. Sponsored by Rep. Richard Baker, R-La.,...
Claiming Conspiracy, Dime Sues Fleet, North Fork
Claiming that FleetBoston Financial Corp. is conspiring with North Fork Bancorp to diminish competition in the New York region, Dime Bancorp on Friday filed a lawsuit to block Fleet's planned divestiture of branches and deposits in New England to a...
Executive Changes: Domash to Run Junk Research at Fleet Boston's Investment Unit
FleetBoston Robertson Stephens has hired Larry A. Domash as head of its high-yield research. Mr. Domash will work out of the New York office and report to Scott Vallar, head of high-yield capital markets at FleetBoston. Mr. Domash was head of...
Fed Chairman Greenspan Raises His Age by 1.37%
Federal Reserve Board Chairman Alan Greenspan was on the road for his 74th birthday last week, but the special occasion did not go uncelebrated. Speaking at a conference on the "new economy" at Boston College Monday, Mr. Greenspan was given a birthday...
Fleet Enters Person-to-Person E-Payments Circle
Joining the small but trendy clique of banks that facilitate person-to-person Internet payments, FleetBoston Financial Corp. today plans to announce a partnership with Tradesafe.com, a Providence, R.I., company that helps consumers pay one another...
Investment Banks, Brokers Rise on Merger Speculation
Merger mania is back, but this time the enthusiasm is funneling into investment bank and brokerage stocks. In trading on Friday, several of these stocks soared on speculation that they would be targeted for acquisition by European or U.S. banks...
Liberty Begins Brand Push, Eyes Acquisition
Liberty Financial Cos. plans to rebrand several of its mutual fund families under the Liberty name and is exploring acquisitions to expand its fund business, an executive with the company said. The branding switch, set to take effect in late spring,...
Mutuals.com Offers Smaller Banks a Funds Portal
Mutuals.com is offering banks without brokerage services the ability to offer more than 10,000 mutual funds to their customers. Visitors to a bank's Web site could gain access to the funds by clicking a link to mutuals.com, said Richard A. Sapio,...
NetBank's Struggle Shows Banks Ambivalent about Screen Scraping
Swallowing some of its concerns about privacy issues, a prominent Internet-only bank, NetBank, has decided to adopt the practice of "screen scraping," in which information is culled from various Web sites and compiled. "To scrape or not to scrape"...
Numbers Man to Bring A New Style to 1st Union
Investors expect a change in management style at First Union Corp. as G. Kennedy Thompson succeeds Edward E. Crutchfield, who on Friday stepped down for health reasons as chief executive officer of the No. 6 U.S. banking company. Mr. Thompson, 48,...
Old Mining Company Morphs into Web Lender
The owners of North Lily Mining Co. are trading in their drills for modems and mouse pads -- and FICO scores. The 84-year-old Denver company, whose metals mining operations have been foundering for 15 years, last week announced plans to get out...
Path Seen Smoother to Reform of Crop Insurance
Bank and farm groups said they are increasingly hopeful that Congress will pass a crop-insurance reform package this year. A $6 billion crop-insurance bill recently cleared what had been its most difficult hurdle by escaping the Senate Agricultural...
Regulators List New Powers, and Banks That Seek Them
WASHINGTON - A day before financial institutions could start exercising the powers allowed under the Gramm-Leach-Bliley Act, regulators on Friday released a flurry of implementing rules and identified some of the banks poised to test the waters...
S1, Q-Up Ride Vendor Merger Wave in $436M Deal
Continuing a trend in which vendors are bulking up to meet snowballing demand for Internet banking systems, S1 Corp. has agreed to buy fellow banking software provider Q-Up Systems Inc. Atlanta-based S1, which caters to large banks, said it would...
Spanish Deal Represents Growth for Irish Web Bank
DUBLIN - First-e Group PLC, which bills itself as the first pan-European Internet bank, has moved closer to fulfilling its global ambitions through an agreement to merge with a Spanish Internet bank. The merger would give First-e a stronger foothold...
Today's News
NATIONAL/GLOBAL DIME FIGHTS HOSTILE BID. In a suit, Dime accused North Fork Bancorp and its backer, FleetBoston, of conspiring to diminish competition, and challenged Fleet's plans for divestitures that cleared the way for last year's merger with...
Visa Card Use Snowballing; $1 Trillion Mark on Horizon
Visa U.S.A.'s transaction totals from 1999 were both rosy and staggering: $721.1 billion in consumer and business purchases were charged on its cards, up 18% from the $611 billion in 1998. Visa plans to announce its yearend results today, coupled...