American Banker articles from August 2006

American Banker archives from August 2006

Recapturing Their Edge.(Brief article)
August 1, 2006... Small-business owners who once favored community banks are giving large banks a slight edge more often, usually citing online banking services as a key factor. With business owners ramping up Web use, how do small banks win back their loyalty?...

Big Player in Va., Born of 10 Little Ones.(Company overview)
August 1, 2006... Ten Virginia banks bound by an unusual holding company structure are merging into a single bank that would be among the largest headquartered in the state. The new bank, to be based in Martinsville, would have $2.5 billion of assets and...

Senate Panel Takes B of A To Task Over Tax Shelters.
August 1, 2006... WASHINGTON -- A Senate subcommittee report due out today will accuse financial institutions doing business in the United States of aiding citizens and companies in using offshore accounts to avoid paying taxes and filing necessary disclosures....

Thinking About Cutting Costs? This Exec Isn't.(Company overview)
August 1, 2006... J. Roger Moyer Jr., the president and chief executive officer of Sterling Financial Corp. in Lancaster, Pa., recognizes the power of words. So when he created a position with the aim of getting Sterling's multiple business units to work...

GE Offshoot's Buy a Mortgage Outsource Bet.(Genpact)(MoneyLine Lending Services Inc. )(Company overview)
August 1, 2006... Genpact, an Indian outsourcer partially owned by General Electric Co., is buying the fast-growing MoneyLine Lending Services Inc. to move deeper into mortgage outsourcing, a business Countrywide Financial Corp. appears to have soured on. ...

HSBC Chief Exec Lays Out Strategy for U.S. Growth.(Company overview)
August 1, 2006... HSBC Holdings PLC said that its online deposit-gathering strategy in the United States is paying off, and that it does not feel the need to buy a retail bank here anytime soon. The $1.7 trillion-asset London company said Monday that has...

In Brief: OFHEO Deputy Director Blumenthal Leaving.(Stephen Blumenthal)(Brief article)
August 1, 2006... Stephen Blumenthal, the No. 2 official at the Office of Federal Housing Enterprise Oversight, announced Monday that he will leave the agency in the fall. An OFHEO spokeswoman would not say what the deputy director's next career move will...

In Brief: San Francisco Home Loan Bank Profit Rises.(Brief article)
August 1, 2006... The Federal Home Loan Bank of San Francisco reported second-quarter net income of $128 million, which topped the first quarter by 7.6%. Net interest income grew 4.1%, to $201 million, and advances rose 2% to $167.4 billion, according to the...

In Brief: Bid to Widen Reg-Relief Bill Turned Down.(Brief article)
August 1, 2006... Senate Banking Committee leaders last week rejected a House Financial Services Committee bid to add nine provisions and cut one from the regulatory-relief bill, sources said Monday. Instead, Senate Banking leaders are asking the House to...

In Brief: Va.'s C&F Suspects Ex-Workers.(Brief article)
August 1, 2006... C&F Financial Corp. of West Point, Va., announced Monday that it believes two former employees stole $2.2 million from its mortgage subsidiary. The $675 million-asset company said that it has contacted its insurance company and expects to...

In Brief: Profit Drops at Center of N.J.(Center Bancorp)(Brief article)
August 1, 2006... Center Bancorp in Union, N.J., said Monday that second-quarter earnings fell 26% from the year-earlier quarter as a result of a balance-sheet restructuring earlier this year. The $1.1 billion-asset company reported first-quarter net income...

In Brief: Habersham Earnings Up 56%.(Brief article)
August 1, 2006... Habersham Bancorp in Cornelia, Ga., announced second-quarter earnings of $1.3 million, up nearly 56% from a year earlier. Per-share earnings rose 52%, to 44 cents. Through the first six months of the year, net income was up 67%, to $2.6...

PNC, TD Keeping More Collection Efforts In-House.(Industry overview)
August 1, 2006... More banking companies are bulking up their in-house collection departments, working delinquent accounts longer to save money and preserve good customer relations, bankers said. "I've noticed a shift where banks concentrate now on in-house...

In Brief: UAL: Early Results of 'Choices' Positive.(Product/service evaluation)(Brief article)
August 1, 2006... The parent of United Airlines said Choices, a feature added in May to its frequent-flier credit card program run by JPMorgan Chase & Co., is starting to pay off. "Customer reaction has been positive, and two months after launching Choices,...

In Brief: ATM Maker to Resell Hypercom Terminals.(Brief article)
August 1, 2006... The German automated teller machine maker Wincor Nixdorf Inc. has entered a reselling agreement with the Phoenix point of sale terminal maker Hypercom Corp. Wincor Nixdorf, whose U.S. headquarters is in Austin, said Monday that it will...

In Brief: Issuance Total Near 7M for Chase's Blink.(JPMorgan Chase & Co.)(contactless Blink cards )(Product/service evaluation)(Brief article)
August 1, 2006... JPMorgan Chase & Co. said it has issued nearly 7 million contactless Blink cards in the year since its launch. The New York banking company said Monday that it has issued the cards in Connecticut, Colorado, Delaware, Florida, Georgia, New...

Bank and Thrift Merger Deals: Announced in the second quarter of 2006.
August 1, 2006... Sale price Announced price to: Seller's assets Buyer Seller Date (millions) Equity Net (thousands) 1 Wachovia Corp. Charlotte Golden West Financial Corp. Oakland, Calif. May 7 $25,504.9 2.82 16.54 $127,556,456...

In Brief: American Home Unit Hires Northeast Exec.( Bill Merrill )(Brief article)
August 1, 2006... American Brokers Conduit, the wholesale division of American Home Mortgage Investment Corp. of Melville, N.Y., has hired Bill Merrill as its senior vice president for the Northeast. Mr. Merrill, whose hiring was announced Monday, joined ABC...

In Brief: American Guardian In Automation Deal.(Commerce Velocity Inc.)( American Guardian Home Loans)(Brief article)
August 1, 2006... Commerce Velocity Inc. of Irvine, Calif., agreed to provide fully automated loan processing services for brokers of American Guardian Home Loans, a Lake Forest wholesale alternative-A and nonprime specialist. American Guardian will use...

In Brief: Earnings Report Lifts Deluxe Shares.
August 1, 2006... Shares of Deluxe Corp. bounced last week after the nation's largest check printer reduced its dividend by 37.5% and announced a plan to cut at least $150 million in costs by the end of 2008. On Thursday the Shoreview, Minn., vendor reported...

In Brief: Online Resources, Corillian Widen Pact.(Brief article)
August 1, 2006... The online banking vendors Corillian Corp. and Online Resources Corp. have expanded a referral deal that began between Corillian and Princeton eCom Corp., an online bill payment provider that Online Resources bought last month. Corillian...

In Brief: Authentium Offers Online Security Tool.(Authentium Inc. )(Product/service evaluation)(Brief article)
August 1, 2006... Authentium Inc. of West Palm Beach, Fla., started marketing an online banking security product Monday to both banks and Internet service providers. The software, VirtualATM, can be activated at the start of online banking sessions and...

In Brief: Fiserv to Process For Innovative Bank.(Company overview)(Brief article)
August 1, 2006... Innovative Bank in Oakland, Calif., plans to use a change in core processing outsourcers as an opportunity to boost its efficiency and streamline vendor relations. The $204 million-asset unit of Innovative Bancorp. plans to move its loan...

In Brief: An Ariz. CU to Use Bharosa Applications.(Brief article)
August 1, 2006... Bharosa Inc. said Desert Schools Federal Credit Union of Phoenix is installing two of its online banking security applications. The Santa Clara, Calif., vendor announced the deal last week. The $2.7 billion-asset credit union plans to use...

In Brief: Cape Ann Savings Touts Trust Software.(Product/service evaluation)(Brief article)
August 1, 2006... Cape Ann Savings Bank of Gloucester, Mass., has virtually eliminated trading errors in its trust division by automating its trade execution, an executive says. E. Gail Ramos, a vice president and the senior trust officer at the $346...

Northern Trust Shift Aims To Further Canada Growth.(Company overview)
August 1, 2006... Northern Trust Corp. will need to do more than hire a Toronto native to continue the rapid growth of its Canadian wealth management business, analysts said. The Chicago company said last month that it had hired Robert Baillie as the...

In Brief: B of A Enlarges European Equity Teams.(Company overview)(Brief article)
August 1, 2006... Bank of America Corp. has expanded its European equity products business. The Charlotte company announced Monday that it has appointed 10 people to its London marketing team and four to its London trading teams. The marketing team...

In Brief: John Hancock Expands in Universal Life.(Product/service evaluation)(Brief article)
August 1, 2006... John Hancock has launched a universal life insurance product for clients seeking low-cost death benefit coverage as well as the potential to accumulate cash. The Boston unit of Manulife Financial Corp. announced the launch of Performance...

In Brief: New York Life Names New Division Head.(O'Brien, Dennis)(Brief article)
August 1, 2006... New York Life Insurance Co. has named Dennis O'Brien the head of its long-term care division. Mr. O'Brien, whose promotion was announced Monday, joined the division in 1996 as a corporate vice president and actuary. He was promoted to vice...

In Brief: Fixed-Income Fund from Morgan Stanley.(Product/service evaluation)(Brief article)
August 1, 2006... Morgan Stanley Investment Management launched a fund that will invest primarily in a mix of dollar-denominated, investment-grade, fixed-income issues, particularly U.S. government, corporate, and mortgage-backed securities. The primary...

In Brief: Mortgage Chief Leaving JPMorgan Chase.(Wind, Thomas)(Brief article)
August 1, 2006... Thomas Wind, the head of JPMorgan Chase & Co.'s mortgage business, is leaving the company, a spokeswoman confirmed Monday. "We'll be looking to name a successor very quickly," the spokeswoman said. His decision "to pursue other...

In Brief: Bigger Provision Lowers Santander Profits.(Brief article)
August 1, 2006... Santander Bancorp. of San Juan, Puerto Rico, said second-quarter profits fell 13.8% from a year earlier, to $11 million, citing an increase in loan-loss provisions and a falloff in gains from loan sales. The $8.9 billion-asset company,...

In Brief: OCC Gets Enforcement Director from OTS.(Richard C. Stearns)(Office of the Comptroller of the Currency )(Brief article)
August 1, 2006... The Office of the Comptroller of the Currency announced Monday that it has named Richard C. Stearns director for enforcement and compliance. Mr. Stearns will oversee the enforcement and compliance division within the law department...

In Brief: Senate Asked to Reject Web Gambling Bill.(Brief article)
August 1, 2006... The Independent Community Bankers of America and the U.S. Chamber of Commerce are asking the Senate not to adopt the House Internet gambling bill. The bill would require financial institutions to block online gambling payments to companies...

North American Lines Fuel Growth at ABN Amro.(Company overview)
August 1, 2006... ABN Amro Holding NV said its North American operations were one of its main profit drivers during the second quarter. Earnings from those operations rose 42.7% from a year earlier and 37.5% from the first quarter, to $375.3 million, the...

How the New Fed and Treasury Will Get Along.
August 1, 2006... In May 2001, Federal Reserve Board Chairman Alan Greenspan led off the prestigious Chicago Federal Reserve Bank conference on the costs, benefits, and implications for regulation of the financial safety net. At the luncheon following the...

Huntington Generating Buzz with Index.(Product/service evaluation)
August 1, 2006... Huntington Bancshares Inc. has created a "backpack index" to help parents calculate how much they will spend on school supplies this year - an idea that is generating positive publicity for the Columbus, Ohio, company. The intent is to...

A New Strategy for Giving.(Brief article)
August 1, 2006... Eagle Bancorp Inc. in Bethesda, Md., has established a charitable foundation to help members of its community battle breast cancer. Last October the $686 million-asset company hosted a golf tournament that raised more than $80,000 for the...

Funny? That Slick Spot on the Floor Can Be Costly.
August 1, 2006... Talk about a reason to steer customers to Internet banking. According to a liability handbook put out last month by Chubb Group of Insurance Cos., community banks are frequent targets of lawsuits filed by customers and passersby injured...

Competition: Why Some Sell, and Others Start Up.(Industry overview)(Company overview)
August 1, 2006... First Citizens Bancorp in Cleveland, Tenn., sold itself to BB&T Corp. last month, partly because its chief executive said it is getting harder and harder for companies like his to compete with the banking giants. Though First Citizens was...

Tower of Indiana Becoming Force In the HSA Field.(Tower Financial Corp. )(Company overview)
August 1, 2006... Tower Financial Corp. in Fort Wayne, Ind., is off to a good start in the health savings account business. The $576 million-asset bank holding company rolled out the accounts in August 2004, and by the end of 2005 it had more than 650...

As Big Banks Get Better, Small Ones Shift Tactics.(Product/service evaluation)
August 1, 2006... Matthew MacDonald, the owner of the Maplewood, N.J., toy store WoodenYouKnow, had nothing good to say about his online banking experience at a local community bank. The service was "atrocious," Mr. MacDonald said. He could not pay bills...

Greater Bay Sheds Bit of Light on Delay.(Company overview)
August 2, 2006... A mystery over the delay in Greater Bay Bancorp's second-quarter earnings report, which sparked a mid-July stock rally, is carrying over into August. The rally, however, apparently will not. Greater Bay usually releases second-quarter...

Freddie's 'Voluntary' Cap Also a More Flexible One.
August 2, 2006... WASHINGTON -- Two months after the Office of Federal Housing Enterprise Oversight put a cap on Fannie Mae's mortgage portfolio, Freddie Mac struck a similar agreement with the regulator. The voluntary agreement, revealed in a letter to...

Reading Tea Leaves of ILC Moratorium.(Brief article)
August 2, 2006... WASHINGTON -- The Federal Deposit Insurance Corp.'s six-month moratorium on approving industrial loan company applications has sparked several theories about what the agency might be up to. Some said the FDIC is hoping Congress will step in...

KeyCorp Puts A Subprime Unit on the Selling Block: Planned divestiture follows a similar decision by Nat City.(Company overview)
August 2, 2006... KeyCorp is considering selling its nonprime home lending arm, Champion Mortgage Co., for the same reasons another Cleveland banking giant, National City Corp., is thinking about unloading a similar unit. Both companies are trying to get rid...

Executive Changes @BY#By Christopher Wood.(Brief article)
August 2, 2006... MIDWEST Comerica Inc. of Detroit has hired Robert D. McDermott as its senior vice president of finance. He will oversee all aspects of financial and tax management accounting, financial planning and analysis, and the controller...

B of A Admits to Missteps in Wyly Offshore Case.
August 2, 2006... WASHINGTON -- Bank of America Corp. acknowledged Tuesday that it had failed to follow its own anti-money-laundering procedures in handling offshore accounts owned by two Texas billionaires. The company also said it had taken several steps...

New Generation of Buyers Seen Emerging in Texas.(Industry overview)
August 2, 2006... The wave of Texas mergers and acquisitions in recent months could accelerate dealmaking among small banking companies and spawn a new generation of publicly traded ones, industry observers say. Three of the state's most active community...

June Floods Still Affecting Lenders In the Northeast.(Company overview)
August 2, 2006... Wilber National Bank in Oneonta, N.Y., is suffering along with its customers from the June floods that wreaked havoc in much of the Northeast. Two of Wilber's branches, in Sidney and Walton, were flooded with nearly four feet of water when...

Agency Takes Over a Pa. CU.(Brief article)
August 2, 2006... Federal regulators have taken control of a tiny Philadelphia credit union after a routine examination turned up record-keeping improprieties. The National Credit Union Administration said in a press release Tuesday that it has put Mount...

Fidelity, SunGard in Venture.
August 2, 2006... Fidelity Investments has started a joint venture with SunGard Data Systems Inc. of Wayne, Pa., to enhance its back-office offering to bank trust and third-party administrator customers. The venture, announced Tuesday, integrates the...

Exante Becoming A Major Player In HSA Business.(Product/service evaluation)(Company overview)(Brief article)
August 2, 2006... Exante Financial Services has no problem stepping on traditional banks' toes to increase its share in the health savings account market. The Minnetonka, Minn., unit of Minneapolis' UnitedHealth Group advertises itself as "the only...

In Brief: Mellon to Open U.K. Family Office.(Brief article)
August 2, 2006... Mellon Financial Corp. announced Tuesday that it is expanding its family office services internationally. The Pittsburgh company will open its first such overseas office in London. Its private wealth management group has family-office...

In Brief: MetLife Reports Big Earnings Drop.(Brief article)
August 2, 2006... MetLife Inc. said that its second-quarter net income fell 72.6% from a year earlier despite an increase in operating earnings. Net income was $617 million, or 80 cents a share, the New York company announced Monday. It said that a $1.2...

In Brief: Principal Financial Profit Falls by 11%.(Brief article)
August 2, 2006... Principal Financial Group Inc. reported that its second-quarter earnings fell 11.9% from a year earlier, to $210.5 million, or 76 cents a share. The Des Moines life insurer, which announced the results Monday, blamed the decline on lower...

In Brief: Hanover Insurance Profit Down 23.9%.(Brief article)
August 2, 2006... Hanover Insurance Group Inc. said its second-quarter net income fell 29.3% from a year earlier. The Worcester, Mass., company said net income fell to $50.9 million, or 99 cents a share. Last year's second-quarter net income included a...

How Patent Fights Could Reshape Banking Industry.(Industry overview)
August 2, 2006... The growing use of patents is likely to change the financial services industry, locking in innovators' advantages and raising costs for others, according to bankers, lawyers, and other experts. The issue is getting executives' attention as...

Amex Reworking Rewards, Pushing Internet Use.
August 2, 2006... Saying it has succeeded in getting consumers to use its cards for essential day-to-day purchases, American Express Co. is overhauling its reward programs -- which have been unexpectedly expensive of late -- to encourage online spending instead....

Pa. Offers Ability-to-Repay Rule.(Brief article)
August 2, 2006... As expected, Pennsylvania's department of banking has issued a proposed rule that would forbid licensed mortgage originators from offering a loan "without reasonable information and belief" that the applicant can pay it back. The rule,...

In Brief: First Data Losing M&A Exec Aiello.(Richard E. Aiello)(Brief article)
August 2, 2006... Richard E. Aiello, who has overseen mergers, acquisitions, and joint ventures for First Data Corp. since 2000, will join the New York private equity firm Welsh, Carson, Anderson & Stowe in mid-August. Donna Pennington, a spokeswoman for...

In Brief: NetSpend to Offer Cards for Teens.(Product/service evaluation)(Brief article)
August 2, 2006... NetSpend Corp. of Austin, a marketer of prepaid debit cards, has teamed up with Virgin Mobile USA LLC to offer such cards to teenagers. Inter National Bank of McAllen, Tex., will issue the reloadable Stash cards, which reward use with free...

In Brief: Canadian Bank Buys Stake in Credigy.(Brief article)
August 2, 2006... National Bank of Canada has bought a majority interest in Credigy Ltd., an Atlanta outfit that buys distressed consumer receivables in the United States and also collects on behalf of creditors. Credigy uses an Internet servicing platform...

In Brief: Bradford Bancorp to Buy Valley of Md.(Brief article)
August 2, 2006... Bradford Bancorp Inc. in Baltimore is buying the $50 million-asset Valley Bancorp in Hunt Valley, Md., for $9.6 million in cash. The deal, announced Monday, is expected to close in the first quarter. The acquisition would be the second...

In Brief: Wachovia to Revamp Retail Bank Structure.(Company overview)(Brief article)
August 2, 2006... Wachovia Corp. is reorganizing its retail bank by replacing a dual-region geographical structure with three territories. The $554 billion-asset Charlotte company said Tuesday that it would create east, west, and central regions after its...

In Brief: BB&T Purchases First Citizens of Tenn.(Brief article)
August 2, 2006... BB&T Corp. said it has bought First Citizens Bancorp. of Cleveland, Tenn., for $142.8 million in cash and stock. The purchase, announced Tuesday, gave the Winston-Salem, N.C., company the seventh-largest market share in Tennessee. It...

Cap One's Stock Poised for Rebound?(Company overview)
August 2, 2006... Capital One Financial Corp.'s stock price has fallen enough since after its second-quarter earnings report that some on Wall Street say the selloff has been overdone. Kenneth A. Posner, a Morgan Stanley analyst, upgraded the stock Tuesday...

Rate Pain Doesn't Dull Paribas' U.S. Enthusiasm.(BNP Paribas)
August 3, 2006... BNP Paribas got slightly less second-quarter revenue from its U.S. retail banking unit, BancWest Corp., than it did a year earlier, as the unit struggled with the flat yield curve and pricing pressure on loans. However, growth in other...

Move to Alter Loan Mix Jolts Placer Stock.(Placer Sierra Bancshares)
August 3, 2006... Placer Sierra Bancshares' decision to pull back its commercial real estate lending to focus on higher-yield commercial and industrial loans did not go over well with investors and analysts. The Sacramento company's shares tumbled Wednesday...

MasterCard Volume Up, So Are Costs.
August 3, 2006... In its first earnings report as a public company, MasterCard Inc. posted better-than-expected revenue and operating income, fueled by increased consumer spending, particularly on debit cards, and new cross-border transaction fees for banks. ...

Twisting ARMs:10-Year Cap as Refi Deterrent.(adjustable-rate mortgages)(New York Mortgage Trust Inc.)
August 3, 2006... The evolution of mortgage products marches on. The lending unit of the real estate investment trust New York Mortgage Trust Inc. this week rolled out an adjustable-rate mortgage that caps the rate for the first 10 years at 6.99%. Typically,...

Wells: This Offshore Plan Is Different.(Wells Fargo and Co.)
August 3, 2006... Among the big U.S. financial companies, Wells Fargo & Co. has stood out as one that has kept its technology in the United States while others sent work to lower-cost markets around the world. So its plan to open a technology center in...

In Brief: Deutsche Bank Hires Capital Markets Exec.(Marwan Marshi)(Brief article)
August 3, 2006... Deutsche Bank AG hired a fixed-income manager from Citigroup Inc. as the vice chairman of global capital markets in New York. The Frankfurt banking company said Wednesday that Marwan Marshi, who worked with Citi for 20 years before...

In Brief: FDIC Directive Against Calif. Bank Lifted.(Federal Deposit Insurance Corp., Community Bank of the Bay, Oakland, California)(Brief article)
August 3, 2006... Community Bank of the Bay said a memorandum of understanding it had operated under for the past 21 months was lifted Tuesday by the Federal Deposit Insurance Corp. The Oakland, Calif., company signed the memorandum in 2004 and put in a new...

Industry Pushes Senate On Tax, Pension Reform.
August 3, 2006... WASHINGTON -- Banking lobbyists are urging Senate lawmakers this week to pass bills that would extend small-business tax breaks and enact long-sought pension reforms. Both bills remain up in the air as the Senate prepares to adjourn Friday...

Rating Agency Bill Passes, But GSEs On Panel's Mind.(Senate Banking Committee, government sponsored enterprises)
August 3, 2006... WASHINGTON -- The Senate Banking Committee passed by voice vote Wednesday a bill aimed at fueling competition and strengthening transparency among the credit rating agencies. But lawmakers spent more time discussing another bill -- which...

Start-Up ILC Meeting Asset Goals, Eyeing New Markets.(industrial loan company MagnetBank of Salt Lake City, Utah)
August 3, 2006... In its first nine months of operation, an industrial loan company with an unconventional business model has already amassed nearly $200 million of loans and is on pace to exceed its goal of having $282 million of assets by Oct. 31. ...

Executive Changes.
August 3, 2006... MIDDLE ATLANTIC Tompkins Trustco Inc. of Ithaca, N.Y., said Gerald J. Klein Jr. will become the president and chief executive officer of one of its three banking units, the $462 million-asset Mahopac National Bank, on Jan. 1. He will...

Pair of Banks Set To Issue Discover Signature Debit.(Central National Bank and Trust Co., Brenham National Bank)
August 3, 2006... Two small southwestern banks plan to begin issuing Discover signature debit cards within the next two months. Central National Bank and Trust Co. in Enid, Okla., plans to begin issuing the cards to consumers by Sept. 1. Brenham National...

JPM Chase, Airline in Private-Label Deal.(J.P. Morgan Chase and Co., United Airlines)(Brief article)
August 3, 2006... JPMorgan Chase & Co. is offering a store card -- for an airline. The United Travel Card, announced Wednesday, can be used only to pay for flights, vacation packages, upgrades, or other items bought over the phone or at the airport from UAL...

Bank and Thrift Deals Completed in the Second Quarter of 2006: Ranked by price at completion.
August 3, 2006... Date Price (millions) Buyer Seller Announced Completed Announced Completed Price at completion to: Seller's Equity 12-month net Branches Assets (000) 1 Sovereign Bancorp Inc. Philadelphia...

Money Markets Heat Up As Rates Continue to Rise.
August 3, 2006... Cold hard cash is hot this summer. With money market fund yields rising right along with the mercury, the long-neglected instruments are enjoying inflows unseen since 2000, according to data from iMoneyNet Inc. "I don't think there's...

Anti-Predator Act Faulted as Reason To Abandon R.I.(financial services regulations, Rhode Island)
August 3, 2006... Rhode Island's tough anti-predator measure may persuade lenders to stop doing business in the state, industry observers said. The Home Loan Protection Act, which was enacted July 11 and is scheduled to go into effect in December, would let...

In Brief: Profit Data Sends CheckFree Stock Down.
August 3, 2006... CheckFree Corp.'s stock tumbled Wednesday after the Atlanta bill payment vendor reported earnings that missed estimates for its fiscal fourth quarter, which ended June 30, and the full fiscal year. Late Tuesday, CheckFree said its fiscal...