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. 179, No. 9, January 16

At B of A, Moynihan Gives Doubters Reason to Believe
Byline: Kate Berry Brian Moynihan is turning the doubters into believers. For four years, the Bank of America (BAC) chief has been under relentless pressure to improve the bank's image and performance, and as recently as a year ago analysts and...
Auto, Industrial Credits Offer Faint Bright Spots in Fed's Loan Picture
Byline: Joe Adler WASHINGTON -- Changes in overall loan balances were muted in the last six weeks of 2013, with bankers in some regions reporting minor growth and those in other parts of the country seeing volume remain stagnant, the Federal Reserve...
Bank M&A Breakups: When Emotions Collide, the Risks Soar
Byline: Robert Barba Breaking up is hard to do, and that is especially true when bank M&A deals go awry. Customers Bancorp (CUBI) in Wyomissing, Pa., and CMS Bancorp (CMSB) broke off their $21 million merger agreement in December, citing...
Citibank Safe Deposit Boxes Appear to Be in Good Shape after Fire
Byline: Antonio Olivero Citigroup (NYSE:C) officials were granted access Wednesday to the Manhattan site of a 30-hour, six alarm fire that destroyed a two-story branch over the weekend. A Citi spokesman said that the branch's safe deposit boxes...
Fed Taking Timid Steps in Limiting Commodities, Senate Democrats Say
Byline: Donna Borak WASHINGTON -- The Federal Reserve Board took too long to issue a plan to limit banks' physical commodities activities, several Senate Democrats said on Wednesday. The central bank released a concept proposal this week, laying...
House Republicans Rip into Volcker Rule
Byline: Victoria Finkle WASHINGTON -- House Republicans were sharply critical Wednesday of regulators' final Volcker Rule, warning that it adds an unnecessary and costly layer of regulation. The banking agencies finalized the ban on proprietary...
JPMorgan Chase to Require ID for Branch Cash Deposits
Byline: Antonio Olivero In an attempt to combat money laundering, JPMorgan Chase (JPM) is banning anonymous cash deposits into accounts at branches. Starting Feb. 1, Chase tellers will ask all customers making cash deposits into consumer accounts...
Lawmakers Press for Changes to QM
Byline: Rachel Witkowski WASHINGTON -- Just a few days after it took effect, House lawmakers began a renewed push for amendments to the "qualified mortgage" rule, arguing it will unintentionally squeeze out key borrowers. Speaking during a House...
Mortgage Lenders Loosen Credit for Lower FICO Borrowers: Ellie Mae
Byline: Kate Berry Mortgage lenders have loosened credit considerably in the past year, especially for borrowers with less-than-stellar FICO scores. The average credit score for borrowers who received a home loan in December was 727, down from...
Regions Exits Deposit Advance Market
Byline: Kevin Wack Regions Financial (RF) is discontinuing its controversial short-term consumer loan product, the company announced Wednesday. Birmingham, Ala.-based Regions is the first of six U.S. banks that offer so-called deposit advances...
SunTrust's 2013 Detox May Set Stage for Successful Year
Byline: Andy Peters SunTrust Banks (STI) worked hard to get its affairs in order last year. Now it's up to Chairman and Chief Executive Bill Rogers to keep the Atlanta company on track to grow. When the $172 billion-asset company reports fourth-quarter...
Volcker Rule Fix Will Aid Large and Small Banks
Byline: Rob Blackwell WASHINGTON -- Federal regulators released an interim final regulation late Tuesday designed to fix a problem with the Volcker Rule that would have caused hundreds of banks to take writedowns on certain assets. The agencies'...