American Banker articles from April 2002

American Banker archives from April 2002

What's Behind Offshore Data Tug-of-War.(United States. Internal Revenue Service, credit card industry)
April 1, 2002... The ongoing battle between credit card companies and the Internal Revenue Service over the agency's access to transaction records for offshore accounts has put the card firms once again in an awkward situation, one that pits the value of their...

State Street Looks to Insurers For Servicing-Business Growth.(MetLife Investors Group, ING Funds, Credit Suisse Funds)(Brief Article)
April 1, 2002... As the creation of mutual funds declines from the historic pace of the 1990s, State Street Corp. is looking past mutual fund companies to insurers for growth in its servicing business through outsourcing agreements for accounting and...

CFO's Journey from Repairman to Salesman.(Robert P. Kelly, First Union Corp.)(Brief Article)
April 1, 2002... When Robert P. Kelly left Toronto 18 months ago to become First Union Corp.'s chief financial officer, he had his work cut out for him. The Charlotte company, in the midst of a painful restructuring after years of mergers, faced naysayers...

Today's News.(Brief Article)
April 1, 2002... WASHINGTON Rick Lazio says he's staying put as director of the Financial Services Forum, rather than run for the House seat he held until his failed Senate bid. Page 4 COMMUNITY BANKING The Bluegrass Bankers Association, which...

In Focus: Soft-Money Ban Gives Banks Edge, For Now.(Bipartisan Campaign Reform Act of 2002)(Brief Article)
April 1, 2002... President Bush's pen strokes Wednesday ushered in a new era of financing political campaigns, but with the ink barely dry, and lawsuits already filed, experts say the law could give old-fashioned commercial banks a short-term political edge....

Washington People.(multiple topics)(Brief Article)
April 1, 2002... A Full Agenda Members of the Financial Services Roundtable can get marching orders from H. Norman Schwarzkopf and seek remodeling tips from Home Depot Inc. co-founder Bernie Marcus this week. At least, they could conceivably do so in...

Small-Biz Owners Tout Personal Touch.(American Bankers Association Small Business Relationship Conference, bank personal involvement)(Brief Article)
April 1, 2002... Banks looking to attract more small-business customers would be wise to remember this advice: Personal relations really count. That is what three small-business owners stressed in a panel presentation last week during the American Bankers...

Ky. Splinter Group Says Its Size and Clout Are Growing.(Kentucky, Bluegrass Bankers Association)(Brief Article)
April 1, 2002... Is Kentucky big enough for two banking trade groups? The Bluegrass Bankers Association thinks so. Mitchell Bennett, one of the start-up group's founders, said it can do more for community banks in the state than the Kentucky Bankers...

Fidelity's 401(k) Assets Rose 53% in 2001.(Fidelity Investments Institutional Services Company Inc.)(Brief Article)(Statistical Data Included)
April 1, 2002... The Fidelity Investments institutional services unit announced that it increased assets under management in its 401(k) products last year by 53%, to $4.9 billion. Fidelity Investments Institutional Services Co. Inc., the division of...

Prudential '529' Plan Partnership.(Prudential Financial Inc., Evergreen Investments L.P., SunAmerica Asset Management Corp., Schoolhouse Capital L.L.C., Arrive Education Savings Plan)
April 1, 2002... Prudential Financial Inc. has announced that it is in partnership with Evergreen Investment Services Inc., SunAmerica Capital Services, and Schoolhouse Capital LLC to offer the Arrive Education Savings Plan. Arrive is a Section 529 college...

AIG's Greenberg Sees No Need to Buy a Bank.
April 1, 2002... American International Group has been an aggressive acquirer and a successful distributor of products through banks, but don't expect the New York insurance giant to buy one. Speaking at the Banc of America Securities Financial Services...

Preferred Issues: New Accounting Change A Potential EPS Blow.
April 1, 2002... The notion of requiring companies to record the option awards to their employees as an expense if the company deducts them for tax purposes has been around for years but has always stalled in the face of intense lobbying, mainly from technology...

Compass of Ala. Drops Andersen.(Brief Article)
April 1, 2002... The embattled accounting firm Arthur Andersen lost another banking industry client Thursday when Compass Bancshares Inc. of Birmingham announced it had picked PricewaterhouseCoopers LLP as its new independent auditor. Compass, which had...

Study Touts Emerging Immigrant Market.(Brief Article)
April 1, 2002... New immigrants represent a potential homebuyer market of 4 million borrowers over the next decade, according to a study released Thursday by a research trust fund of the Mortgage Bankers Association. Immigrants face substantial obstacles in...

Conseco Buys Time, But Not Everybody Is Sold.
April 1, 2002... Opinions vary over the wisdom of Conseco Inc.'s bank loan restructuring and public-debt extension, but several analysts say the insurance and consumer finance giant is still in a tight corner. Merrill Lynch analyst Edward Spehar said in an...

EDS Follows Two Downgrades With $1B Package of Deals.
April 1, 2002... Last week had its ups and downs for Electronic Data Systems Inc., which announced contracts worth $1 billion after its stock was downgraded on successive days over concerns that it could not meet revenue estimates. The Dallas company...

In Brief: Morgan Stanley Pushing Clareon Link.(Brief Article)
April 1, 2002... Morgan Stanley Dean Witter & Co., which has been pilot-testing Clareon Corp.'s online invoicing system for some procurement, has started urging several thousand more of its suppliers to participate. The pilot program launched last year...

In Brief: Small-Biz Center on U.S. Bank's Web Site.(Brief Article)
April 1, 2002... U.S. Bank has added a small-business center, with tools and tips, to its online banking site. The center can be used to obtain credit reports for evaluating suppliers; to arrange for Web-site design; to distribute banner advertisements to...

In Brief: Year's 6th Failure: New Century in Mich.(Brief Article)
April 1, 2002... In the sixth bank failure this year, state and federal regulators shut down $19 million-asset New Century Bank in Shelby Township, Mich., on Thursday. The Federal Deposit Insurance Corp., which failed to find a buyer, said the bank would...

In Brief: FDIC Sees Home Lenders' Credit Risk Rising.(Brief Article)
April 1, 2002... Higher consumer debt, looser underwriting, and the rise of subprime mortgage lending as a significant business for some banks are increasing credit risk for home mortgage lenders, the Federal Deposit Insurance Corp. said. Most banks and...

In Brief: Merrill-Ocwen Mortgage Servicing Venture.(Brief Article)
April 1, 2002... Ocwen Financial Corp., a loan servicing company that specializes in buying distressed debt, has formed a partnership with Merrill Lynch & Co. to service Merrill's mortgage loans and others' in this country and abroad. Ocwen owns most of...

In Brief: More Departures at B of A Securities.(Brief Article)
April 1, 2002... Two more executives are leaving Bank of America Corp.'s corporate and investment banking unit amid a restructuring that began in January. Stewart Boswell, a managing director in the mergers and acquisitions group at Banc of America...

Thwarted on Deals, Trustco Seeks Growth via Branches.(Brief Article)
April 2, 2002... After three fruitless acquisition attempts the last couple of years, Trustco Bank Corp. of Glenville, N.Y., is accelerating its branch-building. Trustco has opened just three branches in the last three years but will open twice that many...

New NetBank CEO Eyes Insurance Expansion.(Douglas K. Freeman)(Brief Article)
April 2, 2002... Now that it has acquired a second mortgage operation, NetBank Inc. is looking to expand in other areas, including insurance. Douglas K. Freeman, who became NetBank's chief executive officer on Sunday when it bought the mortgage company he...

Suntrust Ends Solo Effort in Merchant Biz.(Brief Article)
April 2, 2002... SunTrust Banks Inc.'s partial exit from the merchant-acquiring business -- through a joint venture with First Data Corp. in which the processor will handle the details -- reflects the same rationale as its 1999 exit from credit card issuing: A...

GSEs Getting WSJ 's Whitewater Treatment?: Editorial pressure got results; a 'tense' visit from Fannie executives.(Government sponsored enterprises)
April 2, 2002... With three recent lead editorials, The Wall Street Journal elevated a longtime dispute with Fannie Mae and Freddie Mac from an ideological difference of opinion to a full-blown crusade. In the spirit of its longtime former editor, Robert...

OTS Likes One-Exam, Model, Cuts Examiners.(the Office of Thrift Supervision)(Brief Article)
April 2, 2002... In a move designed to slash costs but sure to spark controversy, the Office of Thrift Supervision has decided to stop conducting separate exams for compliance with consumer laws such as the Truth in Lending Act. The agency plans to fold...

TODAY'S NEWS.(Brief Article)
April 2, 2002... FleetBoston announced a non-checking, direct-deposit account that gives free access to cash through ATM and debit cards. Page 2 WASHINGTON The Home Loan Bank System's income fell last year though its member banks increased their demand...

Fleet Hopes Product Turns Unbanked Into Customers.(FleetBoston Financial Corp. offers direct deposit account for unbanked clients)(Brief Article)
April 2, 2002... With the dual aim of reducing teller wait times for existing bank customers and attracting new clients, FleetBoston Financial Corp. on Monday unveiled a direct deposit account for unbanked customers, especially those who use Fleet branches to...

Executive Changes.(at Banc of America Securities LLC)(Brief Article)
April 2, 2002... MIDDLE ATLANTIC Banc of America Securities LLC in San Francisco has hired David Barden as a managing director and an equity research analyst covering wireline telecommunications services companies in the media and telecom services group....

Home Loan System Had 2001 Earnings Decline.(Brief Article)(Statistical Data Included)
April 2, 2002... The Federal Home Loan Bank System's 2001 net income fell 2.6%, to $2.15 billion, despite an 8% increase in demand for advances by member banks. According to the system's annual report, issued Monday by its Office of Finance, low interest...

Spare Change: Riding the Elevator To Locate Customers.(marketing strategy from Washington State Employees Credit Union)(Brief Article)
April 2, 2002... Bank employees at supermarket branches have recruited customers by striking up conversations with shoppers picking their melons or bananas. Taking its cue from the grocery aisles, one credit union with a lobby-level branch in a five-story...

Comment: Nobody Advances Without Asking or Trying.(advice on success in your business)(Brief Article)
April 2, 2002... When a student asks me what he or she needs to do to get to the top of a chosen profession, my answer is always, "Want it." It is amazing how many people do not want responsibility or titles, and smart human resources officers notice and...

AmericanWest In Deal for Latah.(AmericanWest Bancorp. to acquire Latah Bancorp Inc.)(Brief Article)(Statistical Data Included)
April 2, 2002... AmericanWest Bancorp announced Monday that it had agreed to acquire $128 million-asset Latah Bancorp Inc. of Latah, Wash., for $17.55 million in cash and stock. AmericanWest, which has assets of $659 million, said the purchase price is 2.5...

In Brief: Lincoln Names Specialty Markets Director.(Lincoln Financial Distributors appoints Daniel P. Hickey)(Brief Article)
April 2, 2002... Lincoln Financial Distributors Inc., the wholesaling distribution organization of Lincoln Financial Group, has appointed Daniel P. Hickey the managing director of its corporate specialty markets channel, which specializes in corporate-owned...

In Brief: Skandia Variable Annuity Offers 6% Bonus.(American Skandia Investment Services launches Xtra Credit SIX, variable annuity)(Brief Article)(Statistical Data Included)
April 2, 2002... American Skandia Inc. has launched Xtra Credit SIX, a new credit variable annuity that offers a 6% up-front bonus. An additional one-percentage-point bonus is currently being offered on a promotional basis for contracts issued until Aug. 2,...

N.Y. Life, Thwarted In 2 Efforts To Buy, Went Solo on Annuities.(New York Life Insurance Co. management)(Brief Article)(Statistical Data Included)
April 2, 2002... Many analysts say it's nearly impossible to break into the bank channel without making an acquisition, and New York Life Insurance Co.'s executives agreed when they went on the hunt in 1995 and 1996. "We looked at a couple of companies...

National Ambition for PNC's Private Banking.(headed by John J. McGuiness III)(Brief Article)
April 2, 2002... Most executives do not go from a larger bank to a smaller bank when they are looking for an opportunity to expand nationally. But that is exactly what John J. McGuinness 3d did last month when he left Bank of New York, where he had run the...

In Brief: Study: Anti-Launder Tech Spending Up.(following passage of USA Patriot Act)(Brief Article)(Statistical Data Included)
April 2, 2002... The financial services industry has been investing more in anti-money-laundering technologies since passage of the USA Patriot Act, TowerGroup says. The technology consulting firm projects in a report released Monday that increased demand...

In Brief: IPS and Wachovia Make Pact Official.(for marketing of DoubleCheck anti-fraud software)(Brief Article)
April 2, 2002... IPS said Monday that it had signed an agreement under which Wachovia Corp. will recommend IPS' DoubleCheck anti-fraud software to its Treasury services customers. These referrals will be for clients wishing to use positive-pay...

In Brief: InteliData Hires Polchin as CFO.(InteliData Technologies Corp., John R. Polchin)(Brief Article)
April 2, 2002... InteliData Technologies Corp. announced it had hired John R. Polchin as vice president and chief financial officer to succeed Steve Mullins, who left at the end of last week to pursue other opportunities. Mr. Polchin was most recently the...

In Brief: No Bonus in '01 for Schwab Chairman.(Charles R. Schwab)(Brief Article)
April 2, 2002... Charles Schwab Corp. gave no bonus to its chairman and namesake, Charles R. Schwab, last year, when it cut its workforce by 25%, according a regulatory filing Monday. Mr. Schwab's base salary last year declined 18.75%, to $650,003, the...

In Brief: GSEs Give More Risk-Exposure Detail.(government-sponsored enterprise's financial statements from Fannie Mae, Freddie Mac)(Brief Article)
April 2, 2002... Freddie Mac and Fannie Mae on Monday provided new and more in-depth disclosure about their use of derivatives and counterparties and about other risk management practices. The government-sponsored enterprise's 2001 financial-information...

In Brief: Charter One Names Chief Fraud Fighter.(Michael Slocum)(Brief Article)
April 2, 2002... Charter One Financial Inc. named senior vice president Michael Slocum on Monday to the new position of chief security officer in charge of its bank protection department. He will oversee the fraud detection and prevention program and...

'01 Refocusing Put PNC Under Regulators' Thumb.(Brief Article)(Statistical Data Included)
April 2, 2002... PNC Bank has needed regulatory approval since yearend to pay dividends to its parent company, the parent PNC Financial Services Group revealed in a securities filing late Friday. Dividends to shareholders have not been affected by the...

Economy's Shift Prompts Same in Valuation Models.(according to Judah S. Kraushaar, analyst at Merrill Lynch and Co.)(Brief Article)
April 2, 2002... Improving economic conditions have compelled Merrill Lynch & Co.'s lead bank and brokerage analyst to change the way he looks at valuation models, for now. Judah S. Kraushaar said in a research note Thursday that he was shifting to a...

B of A Hires to Strengthen M&A Group.(Banc of America Securities L.L.C. hires six executives)(Brief Article)
April 2, 2002... Banc of America Securities has expanded its mergers and acquisitions advisory group by hiring six executives, including three from Credit Suisse First Boston Corp. The Bank of America Corp. unit is in the midst of a restructuring in which it...

News.
April 2, 2002... A growing number of financial services companies have been developing alternatives to traditional branch design. Here's what some banks are up to. 4A Branches in the nation's capital got mixed reviews. Banking customers cited...

Editor's Note.(Brief Article)
April 2, 2002... In our first Retail Delivery special report of 2002 we are doing something different. In various special reports over the past year we have occasionally featured one article on what consumers think about, say, wireless banking or account...

New-Look Branch Designs Expand Across Nation.(branch banking, Atlanta, Georgia)
April 2, 2002... Atlantans may not realize it, but over the past year they have become test subjects in a grand experiment in branch banking. Most of the area's banks, like those around the nation, have traditional branches, but newcomers to the market and...

Washington Patrons Cite Safety Issues, Convenience.(Washington, D.C.)(Brief Article)
April 2, 2002... Branches in the nation's capital got mixed reviews from customers who cited a variety of reasons for visiting their banks' physical locations. Caroline Lanford, 39, who lost her job as a building inspector last year, drove to the Riggs...

Introduction: Listening to Branch Customers in 10 Cities.(Brief Article)
April 2, 2002... As online banking and other electronic delivery channels continue to proliferate, American Banker decided to explore why consumers visit branches and what they like and dislike about them. For this project, we sent reporters to 10 cities...

For Major Dealings, Dallas Prefers Branches.(Brief Article)
April 2, 2002... Donna Baugh, a program coordinator for an elder-rights program in the Dallas suburb of Sherman, has banked at American Bank of Texas since it bought out a single Bank of America branch in 1995. She keeps a checking, savings, and money market...

New Yorkers Complain of Inconsistent Service.(banks and bank branches)(Brief Article)
April 2, 2002... In the Big Apple it is not unusual to see branches sharing a block or even a building. And in a city of many racial, social, and economic groups, a successful bank must accommodate diversity with a smile. Citibank, Citigroup Inc.'s retail...

Handholding in the Big Apple.(CommerceBancorp, branch banks)(Brief Article)
April 2, 2002... New York - Commerce Bancorp's newest branch on the Upper West Side of Manhattan doesn't look like a typical Big Apple bank. It is filled with bunches of red balloons and baskets of free chocolates and lollipops, and anyone who walks in,...

Albany Customers Gripe About Short Staffing.(Brief Article)
April 2, 2002... Consumers in New York's capital didn't have strong opinions about their branch banking experiences. At least, that is, those who weren't waiting too long for a teller. Lines stretched at a Charter One branch on Western and West Lawrence...

The Windy City Finds Branches Convenient.(Chicago, Illinois)(Brief Article)
April 2, 2002... In Chicago the reason consumers used branches might surprise some advocates of electronic banking: convenience. Karen Doyle, a records clerk for a real estate appraisal company, said the many LaSalle Bank branches downtown made it...

Compliments Drown Out Complaints in Seattle.(customers comment on the bank branches and their service)(Brief Article)
April 2, 2002... Ask Seattle customers what is wrong with their banks and most will say the service. Ask them what they like, and the answer will often be the same. In general, compliments drowned out complaints. Most customers interviewed praised their...

Long Teller Lines Irk San Diego Customers.(San Diego, California bank customers, opinions on bank lines)(Brief Article)
April 2, 2002... Long lines were the chief complaint of San Diego banking consumers. U.S. Bank customers we spoke with at its Point Loma branch on Rosecrans Blvd. said they have had to wait up to 20 minutes to do a transaction with a teller. "I think...

Security, Privacy Concerns Drive San Franciscans.(bank branches versus automatic teller machines in San Francisco, California)
April 2, 2002... Branches of Bank of America Corp. and Wells Fargo & Co. - two national banking companies with long ties to this city - take up many of the prime street-level locations here. Still, convenience is not the only reason customers continue to...

Charlotte Consumers Prefer to Avoid Branches.(bank branches)(Brief Article)
April 2, 2002... Bank customers interviewed in Charlotte are nearly unanimous about one thing: They are in a hurry, and they would rather not visit branches if they do not have to. In a series of interviews conducted outside branches of Bank of America and...

Philly Customers Weary of Merger Process.(of bank tellers and online banking)(Brief Article)
April 2, 2002... Branches in the City of Brotherly Love received decent marks from their customers - though many expressed weariness with what seems like a never-ending merger process. For instance, though he noted that the tellers at Wachovia Corp.'s...

Wachovia to Grow Force of Licensed Reps.(First Union Securities to train 700 bankers to sell annuities and mutual funds)(Brief Article)
April 3, 2002... When First Union Securities Inc. started licensing its bankers to sell mutual funds and annuities nine years ago, few outside the banking company had much faith in licensed rep programs, but today the program is so successful that the company...

The Tech Scene: Why Linux Made Inroads At Financial Institutions.(Linux operating system used by financial companies)
April 3, 2002... When the loss of about 1,000 computer servers in the World Trade Center attacks put Lehman Brothers in the market to buy millions of dollars of systems, it looked at a slightly unorthodox option: Linux, an operating system that is as noteworthy...

Is Westamerica's War of Words Against Activists Worthwhile?(Westamerica Bank acquires Kerman State Bank)
April 3, 2002... Battered by a community group over its reinvestment record and executive pay levels, Westamerica Bancorp. responded to the charges in a way few banking companies have before: It fought back. It was a decision the San Rafael, Calif., company...

Mulling N.Y.'s Vanishing Mid-Tier: GreenPoint CEO says Wamu 'changes everything' in his market.(GreenPoint Financial Corp.'s Thomas Johnson)(Brief Article)
April 3, 2002... GreenPoint Financial Corp.'s chief executive officer, Thomas Johnson, fresh off the job of shuttering its prefab lending business, can recall how the harsh reality of a slumping economy late last year drove home the urgency of that difficult...

Fewer Red Flags as 1Q Earnings Season Nears.(Large U.S. banks report improved first-quarter earnings)(Brief Article)(Statistical Data Included)
April 3, 2002... As the nation's large banking companies prepare to report first-quarter earnings starting next week, the economy remains a worry, but it appears that the new year is off to an uneventful start. In contrast to the messy fourth quarter, which...

Executive Changes.(Bear, Stearns & Co., RBC Dain Rauscher top management changes)(Brief Article)
April 3, 2002... MIDWEST RBC Dain Correspondent Services in Minneapolis, the clearing unit of RBC Dain Rauscher Corp., has hired Kenneth Ackerman as the vice president of business development. He is based in Baltimore and is in charge of developing...

Bush to Speak on Terrorism Insurance.(President Bush backs new terrorism insurance legislation)(Government Activity)(Brief Article)
April 3, 2002... President Bush plans next week to make his first public comments in support of terrorism insurance legislation, sources close to the White House said Tuesday. Representatives from the financial services, construction, real estate, trucking...

In Brief: Freddie Seeks Small-Bank Loan Pools.(New program helps community banks sell small mortgage pools)(Government Activity)(Brief Article)
April 3, 2002... Freddie Mac on Tuesday unveiled a series of initiatives designed to persuade more community banks to become its active sellers. Dave Stevens, the senior vice president and general manager of Freddie's five-month-old community lending unit,...

In Brief: Report: Student Loan E-Pay's Cost Hidden.(Student loan online payment system)(Government Activity)(Brief Article)
April 3, 2002... The Department of Education does not adequately inform borrowers of the costs of having student loan payments automatically debited from their bank accounts each month, according to a General Accounting Office report. The purpose of the...

In Brief: 53% Say Financial Plan Now a Priority.(Consumer Federation's America Saves program)(Brief Article)
April 3, 2002... Because of the Sept. 11 terrorist attacks, 53% of Americans feel it is now more important to have a personal financial plan, according to a survey by the Consumer Federation of America and the Financial Planning Association. "The growing...

New Credit Derivatives And Goodwill Reports to Kick In.(Federal regulations for banks' first-quarter call reports)(Government Activity)(Brief Article)
April 3, 2002... Federal regulators this week reminded bankers of several new reporting requirements that take effect with the first-quarter call reports due at the end of April. The changes, which were finalized in February after being introduced four...

In Brief: Fleet Hires Equity Research Chief.(Robert K. McConnaughey, new managing director)(Brief Article)
April 3, 2002... FleetBoston Financial Corp.'s asset management subsidiary has announced the hiring of Robert K. McConnaughey to be a managing director and head of equity research. Mr. McConnaughey worked for Citigroup Asset Management, where he was...

In Brief: Berger Fund to Stress Value Style.(New small-cap value fund)(Brief Article)
April 3, 2002... Berger Financial Group said it has started a small-cap value fund. The Berger Small Cap Value Fund II is a diversified equity fund that will invest primarily in small companies believed to be undervalued, the company said on Monday. The...

In Brief: Bessemer Adds 5 Fla. Wealth Execs.(Will expand south Florida staff by 33%)(Brief Article)
April 3, 2002... The New York-based wealth manager Bessemer Trust said it has expanded its work force in south Florida by 33% with the hiring of five wealth managers to work from its Miami office. Bessemer's other Florida offices are in Fort Lauderdale, Key...

In Brief: N.Y. Life in College Savings Alliance.(Brief Article)
April 3, 2002... New York Life Insurance Co. has announced a partnership with Upromise to offer families a way to save for their children's college education. New York Life and its subsidiaries will contribute to policyholders' Upromise accounts after the...

In Brief: Lincoln Hires Specialty Marts Exec.(Brief Article)
April 3, 2002... Lincoln Financial Group announced that it had hired Daniel P. Hickey to be managing director of its corporate specialty markets, a unit that covers products such as private placements. Before joining Lincoln, the company said last month,...

Small N.D. Bank Takes Big Insurance Bite in Ariz.(Brief Article)
April 3, 2002... A year after getting an Arizona bank charter, a North Dakota community banking company has taken the "next step," making a deal to buy a big Phoenix agency for its insurance subsidiary. BNC Insurance Inc., a unit of Bismarck, N.D.-based...

NYCE Network Is Latest To Delay Interchange Hike.(Brief Article)(Statistical Data Included)
April 3, 2002... NYCE has joined the price jockeying among electronic funds transfer networks, delaying a hike in the interchange fees that retailers pay to banks and adding discounts for big merchants. The fees, which were to rise last Monday, will now do...

ACB Gets Help for a Move into Rival's Turf.(Brief Article)
April 3, 2002... America's Community Bankers says its partnership with InfiCorp Holdings Inc. will help it get a share of the community bank credit card business, which has historically been dominated by the Independent Community Bankers of America. ...

First USA, United in Visa Tax Promotion.(Brief Article)
April 3, 2002... First USA and United Airlines have begun offering consumers an incentive to pay their 2001 taxes with a United Mileage Plus Visa. In addition to the one air-mile point they will earn for every dollar of taxes paid, consumers will get 5,000...

Comment: Misunderstandings, and Misuses, of CRM.(Customer relationship management)(Brief Article)
April 3, 2002... Survey the major financial institutions and almost none will admit that they do not have a customer relationship management program. Even if they are simply using their Marketing Customer Information File to pick customers for cross-sales...

U.S. Bancorp Buys First Defiance Unit.(Brief Article)
April 3, 2002... First Defiance Financial Corp. announced Monday that it had completed the sale of its Cleveland mortgage subsidiary to U.S. Bancorp in Minneapolis. First Defiance said the proceeds from the sale of Leader Mortgage Co. should result in an...