US Banker articles from November 2007

US Banker archives from November 2007

This Month.
November 1, 2007... 38 Cover Story: Focusing on Efficiency to Rev up Revenues In his 10 months as CEO at U.S. Bancorp, Richard Davis has been charged with powering up the bank's core retail-banking business while maintaining the institution's efficiency...

EditorialIndex.(Statistical table)
November 1, 2007... A, B Agiliance 62 Austin & Williams 34 Bank of America 18, 46, 60 Bank of New York 58 ...

True Leaders Shine In Tough Times. Get Ready.: Yes, these days suggest an absence of genius, but what of common sense?
November 1, 2007... Syndicated columnist Walter Lippmann once observed that "the genius of a good leader is to leave behind him a situation which common sense, without the grace of genius, can deal with successfully." While people may object to the political...

M&A Activity: BofA Succumbs to Pressure From Community Activists: Agrees to spend billions in LaSalle Bank's regions.(Bank of America Corp.)(LaSalle Bank Corp.)
November 1, 2007... After six months of Pestering Bank of America to make concessions in the communities served by LaSalle Bank, community groups finally scored a partial victory. The Charlotte goliath finally agreed to spend $95 billion for community development...

Scene and Heard.(Quotation)
November 1, 2007... "There are huge piles of cash that now need more audit controls because of new regulations like SOX." George Hagerman, president of CacheMatrix, on why Web portals are becoming more popular. "Attorneys' eyes are as wide as saucers."...

Fraud Protection: GPS Technology Mulled To Combat Fraud at ATMs Some 200 machines are stolen annually: Some 200 machines are stolen annually.(DeWalt Industrial Tools and Accessories)
November 1, 2007... Various ATM security initiatives in preliminary stages are using global-positioning technology to fight fraud. One of these efforts comes from a power-tool company, DeWalt Industrial Tool, which views the idea of physically tracking cash...

Hits and Has-Beens.(BB&T Corp.)(Sterling Savings Bank)(The Bank of New York )
November 1, 2007... Heidi Stanley (right) has been appointed president and CEO of Sterling Savings Bank of Spokane, WA. BB&T Corp. has named David Fisher as director of its wealth-management unit and Rick Fowler as manager of mergers and acquisitions, who...

Fresh Ink.(TD Bank Financial Group is buying Commerce Bancorporation Inc.)(National Penn Bancshares Inc. is buying KNBT Bancorp)(Borse Dubai Ltd's investment in The Nasdaq Stock Market Inc.)(Brief article)
November 1, 2007... 1. TD Bank agreed to buy New Jersey-based Commerce for $8.5 billion in cash and stock. When Commerce replaced CEO Vernon Hill in connection with a federal inquiry this summer, analysts said Commerce would make an attractive takeover candidate....

Legal Losses Mount for Banks Found to Run Afoul of Labor Laws.
November 1, 2007... A recent spate of big-ticket class-action settlements against retail and investment banks over Fair Labor Standards Act violations is forcing firms to better arm themselves for battle. In the last year, according to the Web site,...

Noted and Noteworthy.
November 1, 2007... McLane High School students in Fresno, CA, have opened the first fully functional student-run bank at its campus, a joint venture of the Federal Deposit Insurance Corp., the Fresno Unified School District and County Bank. Students win "the...

CUs Gird for Battle over CRA Rules: Should credit unions and other nonbank lenders have community-reinvestment requirements as banks do? Rep. Barney Frank believes so. And so the firestorm begins.(Community Reinvestment Act)
November 1, 2007... Recent remarks by U.S. Rep Barney Frank about whether credit unions and other nonbank lending firms should participate in Community Reinvestment Act requirements have raised the specter of that age-old argument, with credit union...

Authentication: Can You Protect Me Now?: Mobile multi-factor ID is on the verge of becoming a major issue as adoption rates spike and high-risk transactions begin to multiply.
November 1, 2007... With anti-phishing and SSL encryption toolbar capabilities, PC browsers are designed with security top-of-mind. Cellphone browsers, in contrast, are about "making sure you can download a ring tone or you can buy a wallpaper," says Eric Kraar, a...

Credit Products: OR, Fair Isaac Partner On Debt-Collection Tool: The firms are teaming up to offer the next generation of Web-based product, ScoreNet.(Online Resources Corp.)(Fair Isaac Corp.)
November 1, 2007... The credit clock is ticking along toward full-blown crisis, if it isn't already there. The table is set for technology firms looking to win business from creditors who are hungry for new debt collection and management options. One of the...

Money Management: For Seniors' Families, Financial Peace of Mind: Elder-focused bill pay offers payment and money-management services for consumers who often can't manage their daily finances themselves.(Premier Payments Services)
November 1, 2007... It's the kind of scenario that nobody wants to think about-the failing health of a family member. And when the issue does surface, mundane financial matters are the last thing on families' minds. For Harvest Capital, a $10 million-asset...

Life Might Take Visa, But Now Visa Takes Life: The credit-card firm teams up with Hasbro to co-brand the famous board game, "Life," promising to instruct children on financial literacy. One fewer lesson for Mom and Dad to teach.(Visa International Service Association)(Milton Bradley Co.)
November 1, 2007... Visa likes to play games-and figures the next generation of credit-card users likes to as well. The card company has co-branded with Milton Bradley to update its iconic board game, "Life." The new game, "The Game of Life: Twists & Turns," hit...

AD Beat: Provident Bank Introduces The Iconoclastic 'Mrs. P': She's funny. She's competent. And Provident Bank hopes consumers will never forget her. That's Mrs. P, the bank's new advertising icon.
November 1, 2007... Take a spunky, sometimes over-the-top business woman, add some Charlie Chaplinesque slapstick humor, and one has the makings of what Provident Bank officials hope will be a face that launches a hundred spinoffs. Meet Mrs. P, the character...

Revving Up Revenues.(U.S. Bancorp's Richard Davis )
November 1, 2007... Richard Davis took the helm of U.S. Bancorp in December, intent on addressing the one thing that's long been a bugaboo for the company and its shareholders: sluggish revenue growth in its core retail-banking business. It's a riskier proposition...

Buckle Up! Next Year will be A Bumpy Ride.(banking)(Industry overview)
November 1, 2007... The widening subprime turbulence and some banks' spectacular third-quarter losses have players shaking their heads. The mandate for 2008: aggressive risk management. And the "R" word? Fear inflation, but don't count out recession. Maybe...

What's in the Tea Leaves?(economic indicators)(Statistical table)
November 1, 2007... Current state Predictions Fed cuts Discount rate cut: Two times in 2007 Fed to raise discount rate in 2008: 1.5 times Fed funds target rate cut: One...

In Pay Raises, Small Banks Outpace the Broader Industry: Chief retail-banking officers lead the way in snaring the best raises at small banks, up 12.9 percent between 2006 and 2007. Technology and finance executives also pulled in big pay hikes.
November 1, 2007... Community-bank compensation saw small gains in 2007, after bottoming out in 2001 and 2002, but a special premium was placed on the skills needed to manage retail banking, technology and finance. These positions saw double-digit percentage gains...

'Can I Get a Loan For My Nose Job?': The aging of America is raising demand for cosmetic surgeries and other elective procedures that traditional insurance won't cover. For banks, a new financing opportunity is born.
November 1, 2007... When vanity rears its ugly head, banks will be there to help pretty it up again. And they'll make a buck while they're at it. As Baby Boomers age and seek a younger look, the demand for elective surgeries and cosmetic procedures is expected...

Money-Market Funds Get a Boost From Bank Portals: Corporate treasurers are demanding Web portals to manage their money-market accounts, as piles of cash mount and the regulations around managing the funds escalate. Banks smell an opportunity.
November 1, 2007... Internet portals offered by banks are on the verge of transforming the $1 trillion-plus institutional money-market marketplace by giving customers better access to their money and more flexibility in managing it. By offering more precise...

Courting Uber-Wealthy Becomes Competitive Sport: Big banks such as UBS and Wachovia aren't the only ones wooing wealthy clients. Regional banks such as UMB Bank are also jumping into the fray as the number of ultra-rich grow.
November 1, 2007... When UBS executives looked at the growth trend for Americans with assets of $10 million or more, they liked what they saw. They pushed forward with plans to open the bank's first stand-alone private wealth office in this country, choosing New...

Embrace This Acronym: IT GRC. It Could Save Banks a Bundle.(information-technology governance, risk and compliance)
November 1, 2007... The financial-services industry, like every other, is awash in acronyms, and one that's been gaining ground lately is GRC. Used to describe the interdependent disciplines of governance, risk and compliance, GRC refers to the people, processes...

Mergers Create Mid-Sized Have-Nots.
November 1, 2007... Nearly two decades of steady banking industry mergers have created a landscape dotted with a group of banks struggling to survive in an undifferentiated no-man's land. These have-nots find themselves sandwiched precariously between...

For Mortgage Lenders, Taking the Profitability Road.
November 1, 2007... It's hard to escape the dim forecasts and predictions facing mortgage lenders today. The Mortgage Bankers Association reported that suspicious mortgage-lending activity has quadrupled since 2003, costing the lending industry more than $1...