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. 14, January 28

Appeals Court Signals Support for Fed in Interchange Suit
Byline: Donna Borak WASHINGTON -- Judges for an appeals court appeared sympathetic Friday to the Federal Reserve Board's defense of its rule capping interchange fees on debit cards, fueling hopes by bankers that the agency will beat back a legal...
Banks Caught in Fight over New Accounting Framework
Byline: Chris Cumming Nobody wants accounting to get any more arcane, least of all commercial lenders. Untangling a small business' financials is hard enough already. A new effort to streamline financial reporting could help credit officers make...
Bitcoin Backers Seek FDIC-Style Insurance
Byline: Joe Adler WASHINGTON -- A diverse group of entrepreneurs is trying to solve a riddle that may hold the key to Bitcoin and other digital currency moving into the mainstream: how to insure accounts. For all of the energy and innovation...
Congressional Action on Data Breaches Faces Uphill Battle
Byline: Victoria Finkle WASHINGTON -- The spotlight on massive credit card breaches at retailers has again prompted lawmakers to consider data security reform, but whether a bill will actually move through Congress is still a huge question mark....
Fannie Creates Appraiser Blacklist in Effort to Flag Problem Loans
Byline: Kate Berry In its ongoing effort to flag defective loans long before they default, Fannie Mae is taking aim at the home appraisal industry. The government-sponsored enterprise is keeping a virtual blacklist of appraisers that it views...
Feds Bust Former Bitcoin Exchanger Ahead of Lawsky Hearings
Byline: Antonio Olivero Authorities arrested the former CEO of a defunct Bitcoin exchange company on charges of conspiring to launder more than $1 million for users of the online drug market Silk Road. The United States Attorney for the Southern...
Feds Need Better Derivatives Trade Data: Treasury's Miller
Byline: Donna Borak WASHINGTON -- Regulators must work not only to procure data from banks about risks in the financial system but also find ways to standardize how that data is reported, a top Treasury Department official said Thursday. Speaking...
M&T Execs Defend Rising Costs Tied to Hudson City Deal
Byline: Robert Barba Expenses, expenses, Hudson City, more expenses. M&T Bank, long regarded as one of the leanest big banks, reported another quarter of rising expenses as it tries to overhaul its Bank Secrecy Act compliance functions to...
Number of 'Optimistic' Small-Bank CEOs Doubles: Survey
Byline: Sarah Todd Community bank leaders entered 2014 with a rosy view of their companies' prospects, according to a new survey from Abound Resources. A majority (61%) of community bank CEOs said they were optimistic or very optimistic about...
Post Office Offering Loans Is 'Worst Idea since the Edsel': Banks
Byline: Rachel Witkowski, Kevin Wack WASHINGTON -- Bankers and their representatives harshly criticized a call for the U.S. Postal Service to offer financial products like prepaid cards, remittances and even small consumer loans to underbanked consumers,...
Santander Names Former FDIC Head to Board
Byline: Joe Adler WASHINGTON -- After regulating banks, Sheila Bair has now joined the ranks of those who advise them, or at least one of them. Banco Santander announced Monday that Bair, former chairman of the Federal Deposit Insurance Corp.,...
Sunsetting of Windows XP Raises ATM Security Concerns
Byline: Keith Button In April, when Microsoft drops support for the XP operating system used by most ATMs, the sky won't fall on ATM owners and operators. But those that haven't upgraded should be taking other security steps, industry experts warn....
U.S. Postal Service Should Offer Loans, Bank Products, Agency Says
Byline: Rachel Witkowski Washington -- The U.S. Postal Service should consider fixing its massive budget shortfall by offering financial products such as debit cards, remittances and loans to underbanked consumers, according to a paper issued Monday...
VantageSouth, Yadkin Deal Could Spur Meaningful M&A in North Carolina
Byline: Andy Peters A key domino in North Carolina bank consolidation appears to have finally tipped, after Yadkin Financial (YDKN) and VantageSouth Bancshares (VSB) finally agreed on a long-rumored merger valued at $300 million. Smaller banks...
VantageSouth, Yadkin in N.C. to Merge in $300M Deal
Byline: Paul Davis VantageSouth Bancshares (VSB) in Raleigh, N.C., and Yadkin Financial (YDKN) in Elkin, N.C., are merging. Yadkin is considered the legal acquirer, paying $299 million in stock for VantageSouth. However, VantageSouth will be...
What Obama's State of the Union Could Mean for Banks
Byline: Victoria Finkle WASHINGTON -- President Obama is far removed from his harsh criticism of big banks coming out of the crisis, but his State of the Union speech Tuesday night could still provide a crucial glimpse into the administration's...
Zions Reports Big Quarterly Loss on Volcker Rule Charges
Byline: Jackie Stewart Zions Bancorp. (ZION) in Salt Lake City reported a quarterly loss after recording charges tied to its portfolio of collateralized-debt obligations. The $55.7 billion-asset company reported Monday after the market closed...