American Banker back issues from September 2000:
NetBank Tackles Big Net Problem.(account applicants allowed to open accounts using existing checking account or credit card)(Brief Article)
Sep 01, 2000; ... NetBank Inc. is making headway against one of Web banking's persistent problems with a service that makes new account funding easier. The Internet-only bank is letting applicants start an account with funds from an existing checking account or by using a credit or debit card ....
Outta-Here August Sets Record for CEOs Quitting.(chief executive officers in the banking industry)(Brief Article)
Sep 01, 2000; ... So much for sticking around for the bonus. At a time when companies are straining to fill all kinds of posts, a surprising number of them faced the new problem this summer of having to fill their very top jobs. The latest vacancies, which ran across a wide spectrum of companies, ...
Leslie of Calif.: Tough Privacy Bills Will Come.(Tim Leslie, former chairman of the California Senate Finance Committee)
Sep 01, 2000 ... Tim Leslie, whose tenure as chairman of the California Senate Finance Committee effectively ended Thursday, leaves with a warning for bankers: Your opposition to my bill, which would have strengthened consumer privacy protections, was misguided -- and opens the door for something more ...
Going the Extra (Country) Mile to Diversify Offerings.(Kishacoquillas Valley Bank finance centers branches)(Brief Article)
Sep 01, 2000; ... To show customers that it was serious about providing brokerage and insurance services, Kishacoquillas Valley Bank in Belleville, Pa., in mid-1998 started transforming three of its eight branches into "finance centers" -- featuring investment and insurance brokers prominently and ...
Web-Only Banks' CD Rates Pressure Bigger Online Rivals: PNC, Wells stress their service advantage.(Brief Article)
Sep 01, 2000; ... Big banks are scrambling to meet a challenge from Internet-only institutions that offer much higher certificate of deposit rates. "Banks are paying close attention to what is happening to CD rates online, and they are doing everything they can to adjust their rates and adjust ...
TODAY'S NEWS.(Brief Article)
Sep 01, 2000 ... Wells Fargo and First Security are delaying the announcement of the winning bidders for their branches. Page 2 Ullico, a union-oriented insurance and investment firm, is buying Amalgamated Bank of Chicago. Page 3 WASHINGTON Page 4 COMMUNITY BANKING ...
Bidders for First Security, Wells Branches Must Wait.(Brief Article)
Sep 01, 2000; ... Winning bidders for branches and deposits to be divested by Wells Fargo & Co. and First Security Corp. should be announced early this month, somewhat later than had been planned. The divestiture of 37 branches in Utah, Nevada, Idaho, and New Mexico was required as part of Wells ...
Fifth Third to Acquire Ottawa of Michigan.(Brief Article)(Statistical Data Included)
Sep 01, 2000; ... Fifth Third Bancorp announced late Thursday afternoon that it has agreed to buy Ottawa Financial Corp. of Holland, Mich., and its subsidiary, Ameribank, for more than $160 million of stock. Ottawa Financial has $1.1 billion of assets and 27 offices in Holland, Muskegon, and Grand Rapids ....
Union-Connected Insurer to Buy, Expand Amalgamated of Chicago.(Brief Article)
Sep 01, 2000; ... A union-oriented insurance and investment company is getting into the banking business. Ullico Inc. of Washington announced Thursday that it would buy the $600 million-asset Amalgamated Bank of Chicago for an undisclosed amount. Amalgamated would become a subsidiary of Ullico ...
Executive Changes.(Brief Article)
Sep 01, 2000; ... NEW ENGLAND People's Bank in Bridgeport, Conn., has promoted Robert R. D'Amore to executive vice president and put him in charge of marketing and regional banking. He is responsible for transforming the branches of the $10.7 billion-asset bank into full-service ...
In Brief: Study Criticizes State Insurance Oversight.(Brief Article)(Statistical Data Included)
Sep 01, 2000; ... State insurance departments are not adequately funded to regulate the industry, let alone carry out changes required by the financial reform law, a study released Thursday said. The Consumer Federation of America, which did the study, urged state governments to make more ...
In Brief: FDIC Posts Web Questionnaire on Reform.(Brief Article)
Sep 01, 2000; ... The Federal Deposit Insurance Corp. said Thursday that it will solicit comments on deposit insurance reform ideas through a multiple-choice, Internet- based questionnaire. The agency said that an 18-question survey will be posted by today on its Web site, www.FDIC.gov ....
In Brief: Fed Web Pages Available on Palm Pilots.(Brief Article)
Sep 01, 2000; ... The Federal Reserve Board has announced that selected pages on its Web site have been made available for viewing on personal digital assistants, such as Palm Pilots. The central bank said it will make the site's most popular content available, including foreign exchange ...
Wash. State Bank Changes Name.(Brief Article)(Statistical Data Included)
Sep 01, 2000; ... Shedding a last vestige of its thrift past, Interwest Bancorp in Washington State has changed its name to Pacific Northwest Bancorp. The $2.8 billion-asset company officially assumes the new name today. In the coming months its four banking subsidiaries will be combined as ...
Mississippi's Britton In $5M La. Bank Deal.(Brief Article)
Sep 01, 2000; ... Britton & Koontz Capital Corp. of Natchez, Miss., said it plans to buy Louisiana Bancshares, a community bank in Baton Rouge, for $5.3 million of stock. Page Ogden, president of $238 million-asset Britton & Koontz, said his company is buying the Baton Rouge bank to gain a retail ...
Market Took Mutuals Down With It in July.(Brief Article)(Statistical Data Included)
Sep 01, 2000; ... Mutual funds' value declined in July in step with the U.S. stock market, while municipal bond funds gained as investors turned conservative. According to findings released Wednesday by the Investment Company Institute of Washington, stock funds' value fell to $4.2 trillion in ...
Surprise 10th-Place Fund Is Showing the Other Nine Up.(Brief Article)
Sep 01, 2000; ... We are not authorized to publish this article provided by Bloomberg News. ...
Allstate, Hartford Ride Putnam Into Bank Annuity Sales' Top 3.(Brief Article)(Statistical Data Included)
Sep 01, 2000; ... Hartford and the Allstate Life Group, two of the top three insurance companies in first-half variable annuity sales through banks, have Putnam Investments of Boston to thank for much of their success, according to a study released by Kenneth Kehrer Associates. Hartford's Capital ...
In Brief: Web Bill Payer Picks Processing Software.(Brief Article)
Sep 01, 2000 ... X.com, owner of the online payment service PayPal, has signed a contract to use technology from software provider ClearCommerce Corp. that will enable it to process online and wireless credit card transactions in-house. X.com, the most widely used payment service for online ...
In Brief: MC Program Refers Merchants, Acquirers.(Brief Article)
Sep 01, 2000 ... MasterCard International has started a merchant and acquirer referral program to help its members in the United States and Canada form business relationships with each other. Through an online directory, merchants interested in accepting MasterCard products as a payment option ...
In Brief: Infibank to Buy $ 8M Credit Union Portfolio.(Brief Article)
Sep 01, 2000 ... Inficorp Holdings Inc., through its subsidiary Infibank, has bought the $7.5 million unsecured credit card portfolio of North Coast Credit Union of Bellingham, Wash. This comes after an announcement last month that Inficorp had bought a major Indiana credit union card portfolio. ...
In Brief: Chip Card, Loyalty Firms to Team Up.(Brief Article)
Sep 01, 2000 ... Cardis Enterprises International, developer of a system for card-based micropayments, and Smart Chip Technologies Inc. announced they would explore ways to integrate their patented technologies for smart card payment and loyalty applications. Cardis, based in the Netherlands, ...
MasterCard on U.S. TV with 2 Ads in Spanish.(Brief Article)
Sep 01, 2000; ... In an effort to attract the growing Hispanic market in the United States, MasterCard International has come out with two new "priceless" TV advertisements in Spanish. The commercials, both of which were adapted from older spots, began airing last month on Univision and ...
Realink.com Gets Infusion; Now to Sell the Tech-Wary.(Brief Article)
Sep 01, 2000; ... Realink.com, a home appraisal technology company based in Phoenix, has raised $10 million in venture capital. Insight Capital, a private equity investment firm specializing in business-to-business companies, provided the funding. Realink.com plans to use it for marketing, ...
In Brief: Summit Originator Of Renovation Loan.(Brief Article)
Sep 01, 2000 ... Summit Bank of Princeton, N.J., originated a $64 million construction loan to finance the renovation of 48 Wall St., the former headquarters of Bank of New York. The borrower is 48 Wall Street LLC, a joint venture between Swig Burris Equities and MacDonald & Cie, which bought ...
In Brief: Exec Leaves Radian For Consulting Firm.(Brief Article)
Sep 01, 2000; ... Veteran mortgage executive Albert V. Will has left Radian Guaranty, a spokesman for the private mortgage insurer said. The spokesman said Mr. Will wanted to spend more time with his family and to focus on Looking Glass Partners, an Indianapolis consulting firm he co-founded ...
Ameritrade, Wells in Digital Certificates.(Brief Article)
Sep 01, 2000; ... Since President Clinton signed the Electronic Signatures in Global and National Commerce Act into law, financial institutions have begun to embrace digital certificates. Within 60 days Ameritrade Holding Corp. expects to become the first online brokerage to offer the electronic ...
Spectrum: Deals With Intelidata, Alltel Still Valid.(Brief Article)
Sep 01, 2000; ... Spectrum EBP LLC says its deal to work with Metavante Corp. does not affect contracts it signed in March with two other software vendors. Last week Spectrum announced it had hired Metavante, the technology subsidiary of Marshall & Ilsley Corp., to provide a pay-anyone function ...
3 Foreign Banks Hatch Web Firm.(Brief Article)
Sep 01, 2000; ... A joint venture of Bank of Montreal, Barclays PLC , Australia and New Zealand Banking Group Ltd., and the technology consulting firm American Management Systems Inc. will provide trade services over the Internet. The new firm, which has yet to be named, will let banks and their ...
In Brief: Bank One Will Use Alltel Loan Software.(Brief Article)
Sep 01, 2000 ... Bank One Corp. has signed a 10-year agreement to use Alltel Corp.'s lending software and support. The banking company will use Alltel's Advanced Loan System for consumer lending, business, and community banking. Bank One will run the software in its data center in Columbus, ...
In Brief: SunTrust Chooses PeopleSoft Package.(Brief Article)
Sep 01, 2000 ... SunTrust Banks Inc. has bought PeopleSoft Inc.'s Profitability Management software to manage risk across the bank. The software is designed to help global lending institutions manage risk and profitability at the customer, channel, and product levels. It is meant to pinpoint ...
In Brief: X.Com Completes $30 Million Funding.(Brief Article)
Sep 01, 2000 ... X.com announced that it has completed a $30 million round of funding led by the investment arm of Credit Agricole. The Internet payment and financial services company said it plans to use the money to expand into Europe, Japan, South America, and other foreign counties. ...
In Brief: Key Bank in Pact with TeamOn.com.(Brief Article)
Sep 01, 2000 ... To enhance its online services for small businesses, Key Bank has signed an agreement with Seattle-based TeamOn.com. TeamOn provides a set of Web services for small businesses, including e-mail, calendars, document storage and sharing, and contact management. It says it aims to ...
In Brief: Nebraska Approves Zions Signature Unit.(Brief Article)
Sep 01, 2000 ... Digital Signature Trust Co., an affiliate of Zions Bancorp. and the first licensed certificate authority in the United States, has received approval to provide digital signature certification services under Nebraska law. DST became the second company to be named to the approved ...
Compubank Offers Web TVs, Net Access to Get Customers.(Brief Article)
Sep 01, 2000; ... Compubank is offering Web-enabled televisions in an effort to win Internet banking customers. To get the TVs, which are worth about $700, people must sign up for a Compubank checking account and Internet access from NadaPC of Los Angeles, the provider of the Web TVs. ...
Online Deposit Boxes Already Available, With Features Expanding Every Day.(Brief Article)
Sep 01, 2000 ... To the Editor: I would like to respond to the Aug. 25 Viewpoints article "Let's Invent a Cyber Safe Deposit Box to Keep Personal Information Private" by Kimberly Hoover (page 13). Cyber safe deposit boxes have been available for the past year. Though there are ...
Restructuring Involves More Than Flavor-of-Month Models.(banking industry, management)(Brief Article)
Sep 01, 2000; ... Most of the management theory and business architecture is based on the work perfected by Alfred Sloan, who introduced middle management at General Motors in the 1920s as a means of processing information and implementing decisions effectively. Mr. Sloan's invention -- in ...
Stable, Security-Minded Tech Partners Are Crucial for Any Internet Venture.
Sep 01, 2000 ... To the Editor: I read with interest Tom McGrath's Aug. 11 guest article "Don't Be Left Holding Bag with Failing Web Vendor" (page 11). As the largest provider of Internet banking services to financial institutions, we at Digital Insight agree with his position. Now ...
Doubling Deposit Insurance Would Compound S&L Error.(Brief Article)(Statistical Data Included)
Sep 01, 2000; ... The recent debate about doubling the deposit insurance limit from its current $100,000 level ignores a very important question: How did we get to that level in the first place? The short answer is that it was a mistake, actually one of the costliest ever. The longer ...
Corrections.(Page 1, Page 12, August 9, 2000, Page 1,)(August 21, 2000, Page 1, August 30, 2000,)(American Banker)(Correction Notice)
Sep 01, 2000 ... In the Aug. 9 issue, "Countrywide Credit Might Fetch Best Price from a European Buyer" on page 1 should have credited Michael T. Vinciquerra, an analyst at Raymond James & Associates Inc., as a source for some ideas. A chart on page 12 that listed potential suitors for ...
Factory Order Drop Points to Slowdown.
Sep 01, 2000; ... We are not authorized to publish this article provided by Bloomberg News. ...
Banks Stage Strong Rally As Investment Firms Soar.(Brief Article)(Statistical Data Included)
Sep 01, 2000; ... Financial stocks staged a strong rally Thursday as economic data raised confidence that the U.S. economy is heading toward a "soft landing" and merger talk continued to lift some investment banks' shares. The American Banker index of the top 50 banks rose 2.43%, and its ...
In Brief: Many Nations' Banks Seen Unequal to Risk.(Brief Article)
Sep 01, 2000; ... Risk management practices in many countries' banking systems are inadequate to the challenges of the modern economy, Federal Reserve Board Governor Laurence H. Meyer said in a speech prepared for delivery Thursday night. Addressing a conference in Bangkok, Mr. Meyer said that in ...
In Brief: Sallie Mae to Cut Jobs, Take $50M Charge.
Sep 01, 2000; ... We are not authorized to publish this article provided by Dow Jones. ...
In Brief: BancorpSouth Completes First United Deal.
Sep 01, 2000; ... We are not authorized to publish this article provided by Dow Jones. ...
Bankruptcy, IRAs, China Top Banks' D.C. Agenda: Legislation faces long odds in election rush.(Brief Article)
Sep 05, 2000; ... Lawmakers return to Capitol Hill today after a monthlong vacation to punch the clock for their final month of business this year, and banking industry lobbyists are scrambling to salvage some victories out of this lackluster session. The industry's top priorities are bankruptcy ...
Loan Brokers Take Flak In Predator Dogfight.(Statistical Data Included)
Sep 05, 2000; ... The case of Teresa Lopez, who claims she was ripped off in a 1996 mortgage refinancing deal, spotlights a growing controversy over mortgage brokers' roles. A lawsuit filed by Ms. Lopez names not only Delta Funding Corp., of Woodbury, N.Y., which provided the loan, but also All ...
First Union Forging Link To Independent Brokers.(JWGenesis Financial Corp.)(Brief Article)(Statistical Data Included)
Sep 05, 2000; ... First Union Corp. said Friday that it had agreed to buy JWGenesis Financial Corp., a brokerage firm in Boca Raton, Fla., for up to $110 million in cash, to expand its investment services business. The acquisition would put a new twist on the business for First Union, which ...
Preferred Issues: With Blinders On, 3Q Looks Pretty Good.(third quarter is not too bad for the banking industry)(Brief Article)
Sep 05, 2000 ... With a month to go in the third quarter, analysts are not red-flagging bank stocks, despite the commonly shared view that credit quality should worsen as the year progresses. For a variety of reasons, any bad news on earnings may be slower to develop in this quarter than in the ...
Methodical Fifth Third Sets Sights on Michigan.(Fifth Third Bancorp. acquires Ottawa Financial Bancorp.)(Brief Article)
Sep 05, 2000; ... Don't look for blockbuster deals from the Fifth Third Bancorp people. It's not their style. Small acquisitions are the Cincinnati company's bread and butter. Consider last year's $2.1 billion purchase of $7.1 billion-asset CNB Bancshares in Evansville, Ind., the buyer's biggest ...
Today's News.
Sep 05, 2000 ... WASHINGTON The California Legislature has passed a bill that would force credit card issuers to let customers stop the sharing of their data. Page 4 COMMUNITY BANKING Page 5 INVESTMENT PRODUCTS Different consumers want different things from ...
Executive Changes.(Brief Article)
Sep 05, 2000 ... MIDDLE ATLANTIC Citibank Agency and Trust in New York, a unit of Citigroup Inc.'s global corporate and investment bank, has hired Stuart J. Landucci to be sales manager for structured financial products. He is to work with business development executives to implement ...
Company Index.
Sep 05, 2000 ... A A.G. Edwards & Sons 1 ATM Advertising Solutions 8 Abbey, Gardy & Squitieri 1 All State Consultants 1 American Bankers Assn. 1, 20 B Bankers Trust 1 Barclays 7 Bottomline Technologies ...
Opt-Out Mandate Awaits Signature Of Calif. Governor.(Brief Article)
Sep 05, 2000; ... Legislation that would require credit card issuers to let customers block having their information shared with affiliates or third parties is awaiting the signature of California Gov. Gray Davis. The California Assembly passed the bill Aug. 31, a day after the state Senate did ...
Comment:Tighter Spreads Got You Asking Whether to Lend?(Brief Article)
Sep 05, 2000; ... Today's earnings squeeze can be difficult for lenders to deal with. Costs of money market certificates of deposit are rising as the Federal Reserve has raised interest rates, yet the yields available on loans have generally not moved up to match this increase. The ...
In Brief: Webster Kicks Off Insurance Drive.(Webster Bank)(Brief Article)
Sep 05, 2000; ... Webster Bank has launched its first insurance-only marketing campaign. It features billboards -- tagged "If you love it, we'll help you protect it" -- along highways in and around Hartford, New Haven, and Waterbury. Webster entered the insurance industry in 1998 by ...
In Brief: College Plan Gets Added Distribution.(Brief Article)
Sep 05, 2000 ... Capital Professional Advisors Inc., a service group for accounting firms, said it will distribute Mercury Funds' Gift College Investing Plan to its 250-office network of accounting firms. The ...
In Brief: GoldK Names Marketing Director.(Zeldy Lyman)(Brief Article)
Sep 05, 2000 ... GoldK, a company offering retirement management services online, announced that Zeldy Lyman has joined it as director of marketing. Ms. Lyman has more than 20 years' experience in financial services, most recently as vice president and ...
Finance Statement Report: One Size Does Not Fit All.(Brief Article)
Sep 05, 2000; ... When it comes to statements from financial services providers, there is one subject on which all consumers agree -- they hate that small type. Other than that, though, what they want from bank, insurance, and mutual funds statements varies widely with age and income, a survey ...
Banks' Share of Annuity Sales Declines.(Brief Article)
Sep 05, 2000; ... Banks' market share of variable annuity sales slipped slightly in the first half of this year, according to a study published by Kenneth Kehrer Associates. Banks sold 11.6% of all variable annuities in the first half, down from a 12.4% share in all of 1999, the first decline for ...
Generation X Investing Site Gets Help from Barclays Unit.(Barclays Global Fund Advisors)(Brief Article)
Sep 05, 2000; ... Barclays Global Fund Advisors, the San Francisco investment management arm of the venerable British banking company Barclays PLC, typically serves multinational corporations and financial institutions in the world's financial centers, but it also has its eye on people like Mikolaj ...
In Brief: Cash Technologies In Deal with RBSA.(acquisition deal)(Brief Article)
Sep 05, 2000 ... Cash Technologies Inc. has agreed to acquire up to 100% of RBSA Inc., a privately held automated teller machine transaction processor, for $6 million in cash and stock. RBSA, of Carrolton, Tex., is an off-premises ATM processor that handles nearly two million transactions a ...
In Brief: 1st National Omaha Processor Alliance.(Brief Article)
Sep 05, 2000 ... The merchant processing arm of $4 billion asset-First National Bank of Omaha has signed a collaboration agreement with ePicNetz Inc., an Atlanta subsidiary of Hypercom Corp. that specializes in point of sale enhancements. First of Omaha Merchant Processing will use ePicNetz's ...
Customized Ads, Coupons Coming to ATMs?(automated teller machines)
Sep 05, 2000; ... Banks are experimenting with a way for automated teller machines to churn out customized ads and coupons in addition to cash and receipts. Vendors of ATM technology are working with ATM manufacturers and banks to test the concept and gauge consumer interest. ...
In Brief: Chase, B of A Extend Conseco Deadlines.(Chase Manhattan Corp.;)(Bank of America Corp)(Brief Article)(Statistical Data Included)
Sep 05, 2000; ... Chase Manhattan Corp. and Bank of America Corp. have agreed to extend until Sept. 22 $155 million of loans to Conseco Inc. and $145 million of guarantees by Conseco regarding loans made to the beleaguered insurer's directors and officers in connection with a stock purchase program. ...