American Banker articles from December 2001

American Banker archives from December 2001

Lehman Hires Exec for Start Of Trust Banking.(Lehman Brothers hires David Paterson)(Brief Article)
December 3, 2001... Lehman Brothers, following Goldman Sachs in moving into trust banking, installs a former Merrill Lynch executive to start up a trust services unit beginning today. The question on many people's minds: What took them so long? David...

Citi Makes Quiet Entry Into Chip Card Arena.(Citigroup Inc. launches citi.you card)(Brief Article)
December 3, 2001... The nation's largest credit card issuer, Citigroup Inc., has quietly begun issuing a product that is different from -- and may become more versatile than -- the current chip cards on the market. The citi.you card, which became available...

WASHINGTON.
December 3, 2001... Activists, having forced some lenders to drop single-premium credit life, are now gunning for the rest of the credit insurance market. Page 1 COMMUNITY BANKING A New York State program is encouraging banks to open branches in some of...

In Focus: Broader Critique of Credit Insurance Taking Shape.(Brief Article)
December 3, 2001... Consumer activists, emboldened after forcing some large lenders to stop selling single-premium credit life insurance, are turning their guns on the rest of the multibillion-dollar credit insurance market. The Consumer Federation of America...

European Style for Baer's U.S. Unit.(Julius Baer Holding Ltd.)
December 3, 2001... In these fiercely competitive times most financial services products -- including private banking -- have become commodities. But Julius Baer Holding Ltd. of Zurich bases its U.S. business on the idea that there is still something special...

Washington People.(multiple topics)(Brief Article)
December 3, 2001... Powell Picks Chief Federal Deposit Insurance Corp. Chairman Don Powell has tapped Jodey Arrington, who works in the White House office of personnel, to be the next agency chief of staff, sources said last week. Mr. Arrington previously...

N.Y. Development Program Gains Traction.(Carver Federal Savings Bank opened new branch in South Central Harlem)(Brief Article)
December 3, 2001... Until Carver Federal Savings Bank opened a branch at the corner of 117th Street and Malcolm X Boulevard in South Central Harlem this summer, the neighborhood -- one of New York's poorest -- had been without a bank branch for nearly 20 years....

Merging Ohio Firms Pick Unizan Name.(BancFirst Ohio Corp., UNB Corp. create Unizan Financial Corp.)(Brief Article)
December 3, 2001... BancFirst Ohio Corp. and UNB Corp. in Canton, Ohio, have finally settled on a name for their newly formed holding company. Unizan Financial Corp. would be the name of the $3.5 billion-asset company created after the two companies complete...

Preferred Issues: Playing to Its Strengths, B of A Gets a Following.(Bank of America Corp.)(Brief Article)
December 3, 2001... Given the rather bleak conditions in U.S. capital markets, Bank of America Corp. executives were strikingly enthusiastic last week as they touted prospects for their company's all-in-one corporate and investment banking strategy. Though...

Home Prices Up in 3Q, But Slowdown Seen.(Office of Federal Housing Enterprise Oversight report)(Brief Article)
December 3, 2001... The growth in housing values remained strong in the third quarter, the Office of Federal Housing Enterprise Oversight reported Friday, but mortgage lenders are still preparing for that growth to slow down. The average U.S. home price in the...

In Brief: Lockheed Division To Work With FDIC.(Information Support Services division, Federal Deposit Insurance Corp.)(Brief Article)
December 3, 2001... Lockheed Martin Corp.'s Information Support Services division announced Friday that it had been awarded a $45 million contract to provide technical services to the Federal Deposit Insurance Corp. The Lockheed division support the FDIC's...

In Brief: Frisco, McDonald's In Canada ATM Pact.(Frisco Bay Industries Ltd., McDonald's Restaurants of Canada Ltd.)(Brief Article)
December 3, 2001... Frisco Bay Industries Ltd. announced Friday that it had won a contract to supply and install automated teller machines in McDonald's restaurants across Canada. Frisco has already installed 50 ATMs on a trial basis at McDonald's restaurants...

Groups Team Up on E-Pay Platform.(New York Clearing House Association, Euro Banking Association)(Brief Article)
December 3, 2001... The New York Clearing House Association has struck a deal with its European counterpart, the Euro Banking Association, to develop common standards for international e-commerce. The two groups said in a joint press statement they will work...

Banks Search for Bang from Past Years' IT Bucks.(seek to optimize past investments in information technology)(Brief Article)
December 3, 2001... After years of pouring cash into computer systems -- first to avert a year 2000 calamity, and then to capture the power of the Internet -- bankers now are cutting back on technology investments, trying to get the most out of the money they have...

UBS Warburg: Brokerage Stock Run-Up Unjustified.(Brief Article)(Statistical Data Included)
December 3, 2001... The recent run-up in brokerage stocks, coupled with the uncertainty in the economy and capital markets, has some Wall Street analysts questioning those stocks' valuations and lowering their earnings estimates. Two weeks after downgrading...

In Brief: Colonial Makes Bid to Expand in Texas.(Colonial BancGroup, First Mercantile Bank of Dallas)(Brief Article)(Statistical Data Included)
December 3, 2001... Colonial BancGroup announced Friday that it plans to acquire $350 million-asset First Mercantile Bank of Dallas for $67 million in stock. The deal, Colonial's third in Texas since 1998, would more than double its assets in the state, to...

In Brief: Wells Selling 6 Branches for Pohlad Deal.(Wells Fargo and Co.)(Brief Article)(Statistical Data Included)
December 3, 2001... Wells Fargo & Co., which must divest six branches to acquire Texas Financial Bancorp. and units of Minneapolis' Marquette Bancshares, has started to talk with prospective buyers, a Wells spokeswoman said Friday. In its applications to...

In Brief: Citigroup Appoints 2 General Counsels.(Joan Guggenheimer, Stephanie B. Mudick)(Brief Article)
December 3, 2001... Citigroup Inc. said Friday that it had appointed Joan Guggenheimer and Stephanie B. Mudick as co-general counsels. They will join Citi's management committee and be responsible for all legal and compliance functions worldwide, the company...

In Brief: Fed to Vote on Extra Mortgage Disclosure.(amendment to Regulation Z, which implements Home Ownership and Equity Protection Act)(Brief Article)
December 3, 2001... In a public meeting Wednesday the Federal Reserve Board is expected to vote on a final rule amending Regulation Z, which implements the Home Ownership and Equity Protection Act. The amendments, originally proposed last December, would...

Insurance Bills Vie for Senate Approval.(insurance legislations related to terrorist attacks)(Brief Article)
December 3, 2001... Senate bills aimed at insuring American businesses against future terrorist strikes were coming out of the woodwork late last week, with Sens. Phil Gramm, Ernest Hollings, and John McCain each introducing measures. Most characterized the...

NYCH Chief Chided for File-Access Comments.(New York Clearing House Association, Jeffrey P. Neubert)(Brief Article)
December 4, 2001... The place where anti-money-laundering policies and consumer privacy protection intersect has always been dangerous ground for the financial services industry. So when an industry representative last week appeared to endorse giving law...

Online Banking: Using New Sets of Metrics to Measure Web Success.(Brief Article)
December 4, 2001... What yardstick should be used to measure the profitability of Internet banking? Three senior bankers from three technology-heavy financial services companies gave different answers at a conference Friday. To some degree, their answers...

Ahead of Privacy Talks, Last-Minute Posturing.(Brief Article)
December 4, 2001... On the eve of a large government-sponsored conference on privacy, consumer groups and banking officials traded surveys and rhetoric about whether federally mandated privacy notices are a consumer-protection boon or a waste of paper. ...

Some Fear Reduced Focus On Bank Robbery May Last.(Brief Article)
December 4, 2001... Bankers have expressed concern that the increased focus on domestic terrorism initiatives could draw the attentions of Federal Bureau of Investigation away from crimes such as bank robbery and fraud, which in some states are on the rise. ...

Mellon Completes Sale of Retail Unit.(Brief Article)(Statistical Data Included)
December 4, 2001... Mellon Financial Corp. announced Saturday that it had closed the $2.1 billion sale of its retail and small-business banking unit to Citizens Financial Corp., of Providence, R.I. Pittsburgh-based Mellon, which will now focus on its asset...

Executive Changes.
December 4, 2001... Midwest Banc of America Capital Management in Charlotte, N.C. has hired Jeffrey A. McCroy as the co-director of institutional investment strategies. He was also named a managing director at the Bank of America Corp. subsidiary and is...

Treasury: Insurance Bill Urgent.(Brief Article)
December 4, 2001... A Treasury Department official on Monday urged Congress to pass terrorism insurance legislation before 70% of all reinsurance policies expire in less than a month. Sheila Bair, assistant Treasury secretary for financial institutions,...

Spare Change: Ely Can't See `Farm' in These Loans.(Brief Article)
December 4, 2001... The banking consultant Bert Ely is so convinced Farm Credit lenders steal business from tax-paying banks that, unlike most Washington types, he is willing to get his wingtips muddy to prove it. With camera in hand, Mr. Ely recently ventured...

Calif.'s Life Financial Puts an End to Sale And Gets a New Start.(Brief Article)(Statistical Data Included)
December 4, 2001... With an infusion of a new capital, Life Financial Corp. of Riverside, Calif., is seeking a new life as a mortgage lender to owners of apartment buildings. Last week the beleaguered thrift company called off its sale to a Southern...

Banks' Platform Reps Taking Wider Investment Sales Role.(Brief Article)
December 4, 2001... Third-party marketing firms are increasingly turning to bank branch employees other than traditional brokers to spur investment product sales, and these so-called platform reps are credited with a growing share of annuity sales. Platform...

Wachovia Signs Up Goldman Fund Group.(Brief Article)
December 4, 2001... The securities unit of Wachovia Corp. has announced the establishment of a fund family alliance with Goldman Sachs Group Inc. All Goldman Sachs funds are now available to the Charlotte banking company's 401(k) clients, the company said...

BB&T Agency Deal Boosts Employee Benefits.(Brief Article)
December 4, 2001... BB&T Insurance Services' latest agency deal brings more employee benefits strength to the bank-owned unit's Georgia operation. O'Neal & Hinson Insurance Services of Macon, Ga., would bring with it health, disability, life, and...

Moneris of Canada Seeks Processing Biz South of Border.(Brief Article)
December 4, 2001... Moneris Solutions Inc., the merchant processing venture between Royal Bank of Canada and Bank of Montreal, has spent the year trying to pick up business in the United States, and it has set its sights on becoming as large in that market as the...

Visa Offers Passwords to Web Users.(Brief Article)
December 4, 2001... Visa U.S.A. on Monday announced to consumers an online security measure it had introduced earlier this year: Verified by Visa, a voluntary program meant to heighten the security of Internet purchases by letting people attach passwords to their...

In Brief: Foreclosures, Late Payments Up in 3Q.(Brief Article)(Statistical Data Included)
December 4, 2001... The percentage of homeowners making late payments on their mortgages, and the percentage of mortgages in the foreclosure process, increased in the third quarter, according to a survey released Monday by the Mortgage Bankers Association. ...

In Brief: Freddie to Offer Debt Issues Next Week.(Brief Article)(Statistical Data Included)
December 4, 2001... Freddie Mac announced Friday that it will offer two debt issues, which will be priced next week. On Dec. 12, Freddie will price a $3 billion reopening of its 5.50%, 10-year Reference Note due Sept. 15, 2011. A day later it will auction a...

In Brief: Glaser Resigns Post As MBA Lobbyist.(Brief Article)
December 4, 2001... Mortgage Bankers Association officials confirmed on Monday that Howard Glaser, its senior vice president of government affairs, has left the trade group. Officials would not give further details about the departure. Mr. Glaser, who had...

In Brief: More Money Spent On Construction.(Brief Article)(Statistical Data Included)
December 4, 2001... Construction spending reached a seasonally adjusted annual rate of $863.5 billion in October, up 2% from September, the Census Bureau reported Monday. The amount spent on private construction climbed 1%, to $658.3 billion, while public...

LandSafe Makes Countrywide Proud Parent.(Closing services subsidiary helps pre-tax profits of Countrywide Credit Industries Inc.)(Brief Article)
December 4, 2001... LandSafe Inc. is on the rise. The closing-services subsidiary of Calabasas, Calif.-based Countrywide Credit Industries Inc. completed 732,351 orders for credit reports, title orders, appraisals, and flood determinations in October, up...

In Brief: Billserv Wraps Up Equity Offering.(Brief Article)
December 4, 2001... Billserv Inc. said Thursday that it had completed a $2.5 million private equity offering. The provider of outsourced electronic bill payment and presentment services has 89 signed biller customers. Seventy-two of them are in production...

In Brief: Bear Stearns Using Intralinks Software.(Brief Article)
December 4, 2001... Intralinks Inc. said Monday that Bear, Stearns & Co. Inc. had begun using its Internet software to facilitate loan syndications and financial restructuring deals. With Intralinks, the investment bank's leveraged loan group can collaborate...

In Brief: Financial Fusion Signs Up Wells.(Wells Fargo has deployed Financial Fusion Server with UniversalOFX)(Brief Article)
December 4, 2001... Financial Fusion Inc. announced that Wells Fargo & Co. had deployed Financial Fusion Server with UniversalOFX. Wells will use the server to support client computers through open financial exchange; integrate external partners; create...

In Brief: Bank Sites Found Wanting.(Report of a study of consumer Web sites)(Brief Article)
December 4, 2001... Banks continue to lag other service industries in the design and functionality of their Web sites, a study from Novantas concludes. The consulting and business incubation firm compared the product offerings and service of 100 consumer sites...

In Brief: Alltel Lands Amro For Risk System.(Brief Article)
December 4, 2001... Alltel announced last week that ABN Amro had become the first client of its Advanced Commercial Banking System to go live with DataMart for risk management and profitability analysis. The Web-enabled system lets employees of the Dutch...

Downgrades for 2 Firms With Morgan Name, Roots.(J.P. Morgan Chase & Co. and Morgan Stanley Dean Witter & Co.)(Brief Article)
December 4, 2001... The Morgan name got a battering Monday on Wall Street, as both J.P. Morgan Chase & Co. and Morgan Stanley Dean Witter & Co. caught unfavorable attention from analysts. Henry H. McVey, an analyst with Morgan Stanley, downgraded Morgan...

In Brief: N.Y. Thrift to Sell 7 In-Store Offices in N.J.(New York Community Bancorp Inc. will sell to Trust Company of New Jersey)(Brief Article)
December 4, 2001... New York Community Bancorp Inc. said Monday that it plans to sell seven of its supermarket branches to $3.8 billion-asset Trust Company of New Jersey in Jersey City, for an undisclosed price. Five of the in-store branches are in central or...

In Brief: Fed Suspends Ark. Bank's Building Lending.(Brief Article)
December 4, 2001... The Federal Reserve Board filed an enforcement action against a Little Rock, Ark., bank on Monday. Bank of Little Rock and its mortgage subsidiary, Bank of Little Rock Mortgage Corp., are temporarily banned from buying or otherwise...

In Brief: N.Y.-Area Banks Said Most Upbeat in U.S.(Look for an economic recovery)(Brief Article)(Statistical Data Included)
December 4, 2001... A nationwide survey to assess the impact of the Sept. 11 terrorist attacks found bankers in the New York region are more optimistic than most about deposit growth, loan demand, and an economic recovery. Roughly 55% of the 403 bankers who...

TODAY'S NEWS.(Wachovia)(Brief Article)
December 5, 2001... CEO Thompson said Wachovia is positioned to begin delivering on the promises of a merger and restructuring, despite the weak economy. Page 2 Marshall & Ilsley announced its third Minneapolis-area bank deal in seven months. Page 4 ...

The Tech Scene: Postal Scare To Boost EBPP? No Answers Yet.(Online billing may have been boosted by anthrax scare)(Brief Article)
December 5, 2001... Since the anthrax scare took hold, market watchers have been weighing in on whether the threat to the postal system has driven consumers to online billing. Yet there is no consensus in sight. Some say the fading panic over tainted mail has...

First USA Emphasizing Debit, Commercial Biz.(Brief Article)
December 5, 2001... First USA has long been known as the credit card issuer with an affinity product for just about everybody, from doctors to animal lovers to alumni of dozens of universities. Those products are still available today, but the business unit of...

Worksite Insurance Sales Gain Steam.(Brief Article)
December 5, 2001... Banks that sell commercial lines property/casualty insurance and employee benefits are using their relationships with business clients as an entry point to help gain the volume in personal lines products that is needed to make money. This...

Bankers Stand By Work on Privacy Notices.(Brief Article)
December 5, 2001... Banking executives on Tuesday, seeking to deflect mounting criticism of their privacy notices from consumer groups, argued that the rules made it all but impossible to produce notices that were any easier to comprehend. Robin K. Warren,...

Aldinger Defends Household's Accounting.(Brief Article)
December 5, 2001... The chairman and chief executive of Household International stepped forward Tuesday with a rebuttal of accusations that his consumer finance company is playing accounting tricks to mask bad loans. Saying repeatedly that his company has a...

Wachovia Ready to Work On Profits, Its CEO Says.(preparation for being acquired)(Brief Article)
December 5, 2001... G. Kennedy Thompson, Wachovia Corp.'s chairman and chief executive officer, says that he realizes it is time to start delivering on the promises of a major purchase and a restructuring over the past year, and that the company is well positioned...

M&I Century Deal Likely to Be Its Last in Minneapolis Area.(Marshall & Ilsley Corp.)(Brief Article)
December 5, 2001... Marshall & Ilsley Corp. on Tuesday announced its third Minneapolis-area bank deal in seven months, but indicated that this may be its last acquisition in the area because of limited growth prospects there. The Milwaukee bank and thrift...

In Brief: Fed OKs BNP Deal to Acquire BancWest.(Brief Article)
December 5, 2001... The Federal Reserve Board on Tuesday approved a $2.45 billion deal allowing the Paris-based BNP Paribas to buy the 55% stake in BancWest Corp. that it does not already own. BancWest, of Honolulu, owns two banks: Bank of the West of San...

In Brief: Tex. Group's Funds Frozen in Terror Probe.(Brief Article)
December 5, 2001... The Bush administration on Tuesday froze $1.9 million of funds held in the investment accounts of a Texas-based charity, because it claimed that it has evidence that the group channeled money to the Palestinian terrorist organization Hamas. ...

In Brief: Nev. Bank to Refund $4M to Cardholders.(Brief Article)
December 5, 2001... The Las Vegas-based First National Bank of Marin has agreed to refund at least $4 million to customers who were issued credit cards that had little or no available credit, the Office of the Comptroller of the Currency said Tuesday. The...

Conflict, Delay Hit Plan for Thrift Powers.(Thrifts to be able to offer some of same services as bank holding companies)(Brief Article)
December 5, 2001... The government is giving the public 30 more days, until Jan. 10, to comment on a plan to let some thrift holding companies offer all the products and services permitted financial holding companies. The Office of Thrift Supervision proposal...

ID Theft Tops State Trade Groups' Agendas.(Brief Article)
December 5, 2001... Jackie Jones, a contestant on the game show, "I've Got a Secret," is confident that her privacy is protected, but it is the job of Bob, the show's host, to demonstrate to her how easy it is to steal her identity. "By searching your trash,...

In Breif: Wachovia Asset Unit Hires Separate-Accounts Exec.(Brief Article)
December 5, 2001... Wachovia Corp.'s asset management unit named Andrew Clipper vice president and director of retail separate accounts Tuesday. Evergreen Investments hired Mr. Clipper to lead its new-business unit, Evergreen Portfolio Solution, which develops...

In Breif: Allfirst Starts Fund For Gifts to Charity.(Brief Article)
December 5, 2001... Allfirst Bank has started its first donor-advised fund, which will let investors contribute cash or appreciated securities to any public charity in the United States. The Allfirst Charitable Gift Fund, which was announced last Wednesday,...

In Breif: Stock Fund Inflows Resumed in October.(Brief Article)(Statistical Data Included)
December 5, 2001... Stock funds reported net inflows in October after having substantial outflows during September,according to the nation's primary mutual fund trade organization. The Investment Company Institute said Thursday that stock funds had inflows...

In Breif: Amex Offers At-Work Financial Education.(Brief Article)
December 5, 2001... American Express Retirement Services has introduced two workplace financial education programs. The programs, Current Events Financial Education and Life Events Financial Education, offer guidance on surviving recessions and handling major...

In Breif: Market-Tracking CD Extended to Illinois.(Risk Analytics)(Brief Article)
December 5, 2001... Risk Analytics, a bank consulting firm, said it has begun selling its market-tracking certificate of deposit through community and smaller regional banks in Illinois. The Index-Powered CD tracks the Standard & Poor's 500 index and...

In Breif: Report: Bill Would Boost Ginnie, FHA.(Brief Article)
December 5, 2001... Allowing Ginnie Mae to compete with Fannie Mae and Freddie Mac in the secondary market would provide substantial benefits to borrowers and to two government agencies, according to an economic report released Tuesday by Rep. Mark Green, R-Wis....

In Breif: MortgageSelect.com Has Deal with 'Fool'.(Brief Article)
December 5, 2001... American Home Mortgage Holdings Inc. announced Tuesday that it had signed an exclusive multiyear agreement to offer mortgages through The Motley Fool Inc. Under the deal, MortgageSelect.com, American Home's Internet unit, will be the...

In Breif: Nov. Orders Fell at Home Builder M.D.C.(Brief Article)
December 5, 2001... The construction company M.D.C. Holdings Inc. reported Tuesday that November orders for new houses decreased 2% from last year, to 457. The home builder's orders dropped in five of the six states where it operates. Colorado reported a...

Visa Program Turns Skiers into Plastic Fans.(Publicity camapaign for debit cards)(Brief Article)
December 5, 2001... In Visa U.S.A.'s ideal vision of the future payments landscape, consumers would routinely do what 21-year-old Mary Riddell did recently when she was at an airport with little cash in her wallet: Use a debit card to buy a 49-cent banana. It...

Bank of Montreal to Invest in eScout.(Brief Article)
December 5, 2001... Bank of Montreal said Tuesday that its online procurement system, powered by eScout of Lee's Summit, Mo., is now available to its small and midsize business customers, and that the bank has made a commitment to invest $6.8 million in eScout....

CFO Declares Comerica Equipped for Recession.(Ralph Babb, the chief financial officer and soon-to-be chief executive of Comerica Inc.)(Brief Article)(Statistical Data Included)
December 5, 2001... Ralph Babb, the chief financial officer and soon-to-be chief executive of Comerica Inc., said Tuesday that he was confident that the commercial lending giant's healthy risk profile would help it withstand the economic slowdown. Nonetheless...

Congress Looking At Enron Fallout.(Brief Article)
December 5, 2001... Congressional investigators this week began looking into the effects that the collapse of Enron Corp. will have on investors, including financial institutions and the employees of the Houston energy trader. With roughly $1 billion each,...

Refi Boom Shows Flaws In Servicing Hedging.(refinance)(Brief Article)
December 6, 2001... With homeowners refinancing this year in record numbers, mortgage lenders' ability to value and hedge servicing rights has been severely tested, raising questions about the effectiveness of techniques used to hedge risk. The servicing...

FDIC Suits Raise Fears Of Thrift Fees.(Federal Deposit Insurance Corp. )(Brief Article)(Statistical Data Included)
December 6, 2001... Several dozen large banking companies have sued the Federal Deposit Insurance Corp. for more than $600 million, claiming the agency overcharged them five years ago when it capitalized the thrift fund at Congress' behest. Nearly 70 banks...

For Enron Banks, Wide Latitude on Commerce.(Brief Article)
December 6, 2001... At a time when regulators are repeatedly issuing credit quality warnings, and banks are adding billions to their loan-loss provisions, bank supervisors have been surprisingly quiet about the collapse of Enron Corp., the heavily indebted Houston...

TODAY'S NEWS.(Brief Article)
December 6, 2001... SunTrust's deal to buy Huntington's Florida branch network is on track, its chairman said. Page 2 Wachovia plans to eliminate 400 brokerage jobs. Page 2 WASHINGTON An NCUA board member says a CRA-like rule for credit unions should...

Wireless Proponents Rethinking Objectives: Bank of Montreal eyes internal uses, B of A drops out.
December 6, 2001... Several banks that have invested in wireless technology are scaling back expectations for consumer adoption -- and at least one is pulling back altogether. Bank of America Corp. is shelving its efforts to offer wireless financial services,...

Can Brendsel (and Freddie) Stay on Roll?(Freddie Mac)(Statistical Data Included)
December 6, 2001... Leland Brendsel loves crunching numbers, and they all add up for the chief executive of Freddie Mac, economically and politically. After enduring public criticism in the late '90s, he helped defuse a threat to the federal financial support...

Wachovia to Cut 400 Jobs At Charlotte Broker Unit.(Brief Article)
December 6, 2001... Wachovia Corp. plans to eliminate 400 jobs over the next few months as it merges the retail brokerage back-room operations of the former First Union Corp. and the old Wachovia. This is the largest wave of cuts since First Union bought its...

American Banker Honors Killinger.(Kerry Killinger of Washington Mutual Inc.)(Brief Article)
December 6, 2001... Kerry Killinger, the president and chief executive of Washington Mutual Inc., was named American Banker's Banker of the Year at a ceremony in New York Wednesday night. Also honored were Terrence Murray, the chairman and chief executive of...

SunTrust-Huntington on Track.(Brief Article)
December 6, 2001... SunTrust Banks Inc. is closer to completing its purchase of the Florida branch network of Huntington Bancshares Inc., after deciding not to buy its supermarket branches and agreeing to sell seven Florida branches in exchange for regulatory...

CRA-Like Credit Union Rule May Be Revoked.(Brief Article)
December 6, 2001... Trumpeting a report that credit unions have reached out to record numbers of low-income consumers, a National Credit Union Administration board member is calling for a repeal of new community reinvestment requirements for some of these...

Executive Changes.
December 6, 2001... NEW ENGLAND Medford Savings Bank in Massachusetts has hired Joseph A. Phillion as the vice president of branch administration. He manages all the branches of the Medford Bancorp Inc. subsidiary, and he is in charge of developing retail...