American Banker articles from December 2005

American Banker archives from December 2005

Post-Katrina Waivers Lapse, Hurdles Linger.(Hurrican Katrina 2005)
December 1, 2005... WASHINGTON -- Three months after Hurricane Katrina passed through the Gulf Coast, lending industry officials and the policymakers who oversee them are still struggling with how to respond. A key test comes today, when mortgage payment...

Kan.'s Intrust To Quit Fund Management.(Intrust Financial Corp., Wichita, Kansas, makes sale to Arrivato Advisors LLC)
December 1, 2005... Another community banking company, Intrust Financial Corp. of Wichita, is getting out of proprietary fund management -- and blaming escalating regulatory restrictions and costs. The $2.9 billion-asset company said Wednesday that it had...

Opting Out of Merger Pack: BankUnited to keep focus on branch-building.(BankUnited Financial Corp.)
December 1, 2005... Bankers looking for acquisition targets in Florida should not go knocking on BankUnited Financial Corp.'s door. Alfred R. Camner, the $10.7 billion-asset Coral Gables thrift company's chairman and chief executive, said he is not interested...

Financial Services Standouts.(bankers receive awards)(Brief Article)
December 1, 2005... Awards went Wednesday to Wachovia's Ken Thompson, M&T's Bob Wilmers, and Capitol Bancorp's Joe Reid. Three bankers from Katrina-hit states -- Chevis Swetman, Jim Hudson, and Guy Williams -- also were honored for the work they did to rebuild and...

Fed: Some Residential Real Estate Markets Cooling.(report from Federal Reserve Board)
December 1, 2005... WASHINGTON -- Home sales cooled, commercial real estate held its own, and overall lending activity was mixed for the six-week period that ended in mid-November, the Federal Reserve Board said Wednesday. "Generally, residential real estate...

$5M of Deposits for Program.("All-Access Savings Program")(Financial Service Centers of America)(Brief Article)
December 1, 2005... A savings program sponsored by the Financial Service Centers of America, the country's largest check-cashing trade group, has generated $5 million of deposits in its first six months. The All-Access Savings Program links a Federal Deposit...

Executive Changes.
December 1, 2005... Middle Atlantic Stonebridge Bank of West Chester, Pa., has hired Joseph C. Spada as its president and chief executive officer. Mr. Spada was the executive vice president of sales at Blue Ball National Bank, a division of CommunityBanks...

North Shore Recruiting Banks to Market Its Loans.(North Shore Bank, Brookfield, Wisconsin)
December 1, 2005... North Shore Bank in Brookfield, Wis., has hit on a strategy that could let it use other banks to expand its lending statewide without opening any branches or loan production offices. Last month, the $1.8 billion-asset company kicked off a...

Australia's Central Bank Wins A Legal Battle Over Fee Plan.(Reserve Bank of Australia)
December 1, 2005... The Reserve Bank of Australia has won a legal battle over whether it can cut PIN debit interchange rates, and it is planning to revamp the rate structure for credit card transactions. On Monday a federal court upheld the central bank's...

In Brief: American Express Lands Its First HSA Deal.(health savings accounts)(Brief Article)
December 1, 2005... American Express Co. has a deal to offer health savings accounts and cards linked to a consumer-directed health plan of WellChoice Inc., the parent of Empire Blue Cross Blue Shield, beginning next year. The cards and accounts will be...

In Brief: Global Cash Access Gets New Contracts.(Brief Article)
December 1, 2005... Global Cash Access Inc. of Las Vegas announced on Wednesday 10 contracts to provide automated teller machines in casinos. Among them is an agreement with the Oneida Indian Nation's Turning Stone Resort and Casino for Global Cash Access'...

In Brief: New Digs for Asset Capital Acceptance.(Asset Acceptance Capital Corp. moves call center and collections operation, Chicago, Illinois)(Brief Article)
December 1, 2005... Asset Acceptance Capital Corp., a buyer of charged-off consumer receivables, has moved its Chicago call center and collections operation into a bigger office. The new, 20,905-square-foot office is about three times as big as the old one...

In Brief: Former MBNA Exec Joins Casino Outfit.(Desiree Burke, Penn National Gaming Inc.)(Brief Article)
December 1, 2005... Former MBNA Corp. executive Desiree Burke has been named vice president and corporate controller of the casino operator Penn National Gaming Inc. Ms. Burke succeeds Robert Abraham, who has been named director of finance, the Wyomissing,...

American of Pa. Offering an HSA.(American Bank Inc. of Allentown, Pennsylvania)(health savings accounts)(Brief Article)
December 1, 2005... American Bank Inc. of Allentown, Pa., has unveiled its first health savings account. Mark Jaindl, the $520 million-asset bank holding company's president and chief executive, said in a press release issued Wednesday that American's is also...

Banks and Thrifts with Highest Nonperformer Ratios: On June 30, 2005. Dollars in thousands.(Illustration)
December 1, 2005... (part 1 of 4) 1 Asia-Europe-Americas Bank Seattle 2 National Bank of Geneva N.Y. 3 Community Bank of Lawndale Chicago 4 Eastern Savings Bank FSB Hunt Valley, Md. 5 Flower Bank FSB...

Pipeline.(bankers' presentations at Friedman Billings Ramsey conference, New York)
December 1, 2005... Pain Pill Add Mark Hammond, Flagstar Bancorp Inc.'s chief executive and president, to the list of executives sounding like they are paradoxically hoping for a sustained dip in mortgage volumes soon to put the industry back on track. ...

Litton Loan Still Assessing Damage From Hurricane.(aftermath of Hurricane Katrina, Litton Loan Servicing LP)
December 1, 2005... Dealing with the aftermath of Hurricane Katrina has been a trying experience even for mortgage servicers with little exposure to the disaster. Consider Litton Loan Servicing LP, a Houston firm that specializes in troubled loans. Only 1,000...

In Brief: Image Cash Letter Service from B of A.(Bank of America Corp. offers service to corporate customers)
December 1, 2005... Bank of America Corp. is offering an image cash letter service to corporate customers that process large numbers of checks. The Charlotte company said Wednesday that it had completed a pilot program for the service, which enables companies...

In Brief: Mitek Returns to 'Financial Health'.(Mitek Systems Inc.'s fourth quarter earnings)(Brief Article)
December 1, 2005... Mitek Systems Inc. said Wednesday that increased demand for its image analytics and character recognition software helped the company turn a profit in its fiscal fourth quarter. Mitek, of Poway, Calif., reported a net profit of $458,000 for...

In Brief: Ultimate Software Signs Up BECU.(Boeing Employee's Credit Union to use software from Ultimate Software Group Inc.)(Brief Article)
December 1, 2005... The Seattle credit union BECU has agreed to use work-force management software from Ultimate Software Group Inc. The Weston, Fla., vendor said Wednesday that BECU (formerly Boeing Employees Credit Union) had selected its UltiPro software in...

Citi Hire Seen as Move to Ramp Up Electronic Trading.(Steve Randich, Citigroup Inc.)
December 1, 2005... Hiring Nasdaq Stock Market Inc.'s chief information officer may signal that Citigroup Inc. means to beef up its electronic trading capabilities, analysts said Wednesday. Steve Randich is to join Citi on Dec. 9 as the chief information...

Corrections.(Correction Notice)
December 1, 2005... In the Nov. 7 paper, the page 7 news brief "NCR About to Open Budapest ATM Plant" put another city in which it has a factory in the wrong country. Dundee is in Scotland. In the Nov. 30 paper, a page 18 news brief misinterpreted a General...

In Brief: Bies: Fed Hasn't Cleared Citi for Big Deals.(Governor Susan S. Bies on Federal Reserve Board evaluation of corporate governance at Citigroup Inc.)(Brief Article)
December 1, 2005... The Federal Reserve Board and the Office of the Comptroller of the Currency are still evaluating corporate-governance progress at Citigroup Inc., which has not been cleared to make a large acquisition, a Fed governor said Wednesday. In...

In Brief: Wells Not Shopping in Southeast, CFO Says.(Wells Fargo and Co.'s Howard Atkins)(Brief Article)
December 1, 2005... Wells Fargo & Co.'s chief financial officer said it is not interested in bank acquisitions in the Southeast. "East of the Mississippi is like the international marketplace for Wells Fargo: it's not really where we want to be," Howard...

In Brief: AmericanWest to Buy Columbia Trust.(AmericanWest Bancorp, Columbia Trust Bank)(Brief Article)
December 1, 2005... AmericanWest Bancorp of Spokane has agreed to buy Columbia Trust Bank in Pasco, Wash., for $37.8 million. The deal, announced Wednesday, is expected to close in the first quarter and boost AmericanWest's asset size to $1.4 billion. ...

In Brief: Linen to Retire as Amex Vice Chairman.(Jonathan S. Linen, American Express Co.)(Brief Article)
December 1, 2005... American Express Co. said Wednesday that its vice chairman, Jonathan S. Linen, will retire at yearend. Mr. Linen, 62, has held the title since 1993 and joined Amex in 1969. The year before that he had been the president and chief operating...

Benefits and Challenges Seen for Trust Companies.(Industry Overview)
December 1, 2005... The flat yield curve continues to put pressure on many traditional banking companies, but trust and custody banks are benefiting from their asset-sensitive balance sheets. As short-term rates rise Bank of New York Co. Inc. and Northern...

Thompson: 'You've Got to Be Open to Doing Things Differently'.(G. Kennedy Thompson, Wachovia Corp.)(Interview)(Company Profile)
December 1, 2005... Wachovia Corp. chairman and chief executive officer G. Kennedy Thompson accepts the adage that you have to spend money to make money. When he took control five years ago the Charlotte giant faced two fundamental problems. "We were...

When Katrina Struck, These Bankers Showed What Bankers Can Do.(Hurricane Katrina 2005)
December 1, 2005... When Hurricane Katrina delivered monstrous winds, flooding, and fear to the Gulf Coast on Aug. 29, bankers were just as stunned as everyone else. More than 1,000 people died in Alabama, Mississippi, and Louisiana, and thousands more lost...

'There Were Going to Be People Who Lost Everything'.(Chevis C. Swetman of Peoples Bank, Bioloxi, Mississippi)(Interview)
December 1, 2005... Chevis C. Swetman was sitting in his 100-year-old Biloxi house watching television coverage when the storm hit that Monday morning. His wife, Marcia, and son, Tanner, had already left to stay at the main branch of The Peoples Bank, which is...

His Motto Became No Customers and No Employees Left Behind.(James Hudson, president of Omni Bank)(Interview)
December 1, 2005... When Katrina came ashore James Hudson was with his family in a hotel room in Baton Rouge, 75 miles west of his house and his bank in Metairie, just outside New Orleans. He watched the coverage of the storm until late Monday afternoon, when...

'We Know Who Needs Help. Why Won't Washington Let Us?'.(Guy Williams, president of Omni Bank, New Orleans, Louisiana)(Interview)
December 1, 2005... Guy Williams waited patiently at his home in New Orleans as the storm raged. As a St. Bernard Parish deputy sheriff, he knew he would be part of the recovery effort. When the floodwaters rose he went looking for survivors in his small...

Reid: Finding a New Way To Build a Bank Company.(bank executive Joseph D. Reid, Capitol Bancorp Ltd.)(Interview)(Company Profile)
December 1, 2005... Capitol Bancorp Ltd. of Lansing, Mich., did not start with a blinding insight. In 1982, Joseph D. Reid, who was running a successful law firm, founded a community bank. "I mothered it almost to death," he said. "But it worked. Then I...

Wilmers: Profitability Plus Community Involvement.(bank executive Robert G. Wilmers)(Interview)(Biography)
December 1, 2005... Over two decades Robert G. Wilmers transformed a weak, underperforming bank in western New York into a strong, regional franchise through a careful combination of deals and organic growth. He built a respected management team, and a loyal...

Citi Shake-Up, Wal-Mart, And Other Highlights of A Truly Stormy Year.(Industry Overview)
December 1, 2005... Banks continued to report fat profits during 2005, fed by loan growth and credit quality that held up better than expected. But a flat yield curve and pricing pressure on both sides of the balance sheet threaten to make 2006 much less...

The Industry in Its Own Words.
December 1, 2005... "We've got to combat the locational convenience that banks have, as well as provide the products and services." Scott A. Kisting, co-head of Merrill Lynch's global bank group. Jan. 5 "If you look at SBA between 1998 and now, what...

Bay Area Loan Variation Tackles Affordability.(Tenant-in-common loans)(Product/Service Evaluation)
December 2, 2005... Two San Francisco-area banks have come up with a new twist on an old loan product that they say will allow more residents to afford apartment homes in one of the nation's most expensive cities. How much they catch on, though, will depend...

Dugan: New Guidelines Will Curb Option ARMs.(Adjustable rate mortgages)
December 2, 2005... WASHINGTON -- Comptroller of the Currency John Dugan warned Thursday about the risks posed by the expansive growth of negative amortization loans, and said regulators would soon take steps to curtail their use. In a sharply worded speech...

FDIC & Details Big-Failure Option Plan.
December 2, 2005... WASHINGTON -- The 150 largest banks would face significant information-systems challenges under a plan to revolutionize how the government determines deposit payouts in the event of a failure. Industry officials concede that modernizing...

Midtier incorporate Trust Feels Squeeze.(Company Profile)(Industry Overview)
December 2, 2005... U.S. Bancorp's agreement to buy Wachovia Corp.'s corporate trust unit continues a consolidation in which rising costs are squeezing out midsize players. "This is a scale business. You get a lot of benefit from economies of scale, and I...

Servicing Reversal at Wells.(Brief Article)
December 2, 2005... Wells Fargo Home Mortgage has taken back its reverse mortgage portfolio from the subservicer Wendover Financial Services Inc. (c) 2005 American Banker and SourceMedia, Inc. All rights reserved. http://www.americanbanker.com...

People.
December 2, 2005... Plan B When Bob Willumstad left Citigroup Inc. in July, he said he wanted to become the chief executive of a public company. But this week he said he may end up at a private equity firm. In a brief interview Wednesday after giving a...

New Role, Same Salary For First Data's Ex-CEO.(Brief Article)
December 2, 2005... Charles T. Fote gave up his job as First Data Corp.'s chief executive last week, but the Denver processor will pay him the same base salary, as a consultant: $1.1 million. His consulting agreement runs through June 30, 2007. He will also...

In Brief: MoneyGram in All U.S. Bancorp Branches.(MoneyGram International Inc. money transfer services)(Brief Article)
December 2, 2005... U.S. Bancorp has extended MoneyGram International Inc. money transfer services to all its 2,396 in 24 states, and is offering a special $5 flat fee on transfers until Dec. 31, MoneyGram said Thursday. The Minneapolis banking company is...

In Brief: EU Drafting Pan-Europe Payment Rules.(Brief Article)
December 2, 2005... We are not authorized to publish this article provided by Bloomberg News. (c) 2005 American Banker and SourceMedia, Inc. All rights reserved. http://www.americanbanker.com http://www.sourcemedia.com

Security Watch.
December 2, 2005... Washington DSW Inc., the shoe retailer that last spring said identity thieves gained access to debit card, credit card, and checking account information of 1.4 million customers, has agreed to beef up its computer security systems to...

Wells Takes Reverses In-House.(Company Profile)
December 2, 2005... Wells Fargo Home Mortgage has taken back its reverse mortgage servicing portfolio of over 28,000 accounts from the subservicer Wendover Financial Services Inc. and acquired Wendover's reverse mortgage servicing system. Wendover, which was...

In Brief: Home Price Spiral Slowed a Bit in 3Q.(Brief Article)
December 2, 2005... Home price appreciation slowed in the third quarter but remained strong, with average U.S. prices 12% higher than a year earlier, the Office of Federal Housing Enterprise Oversight said Thursday. Third-quarter prices rose 2.86% from the...

In Brief: Stewart Title Names New CEO in London.(Steven Lessack )(Brief Article)
December 2, 2005... Stewart Title Ltd., the European title insurance unit of Stewart Information Services Corp., has appointed Steven Lessack as its chief executive. It also announced Wednesday that it had moved its executive office to London, from Exeter....

In Brief: Freddie Extends Foreclosure Moratorium.(Brief Article)
December 2, 2005... Freddie Mac said Thursday that it is extending through Feb. 28 its foreclosure suspension on loans in the areas hit by Hurricanes Katrina and Rita. The McLean, Va., government-sponsored enterprise made the announcement to lenders through a...

In Brief: Countrywide to Close 2 Processing Units.(Brief Article)
December 2, 2005... Countrywide Financial Corp. said that because of an "industrywide slowdown in originations," and a decision to increase the role of regional operating centers in its fulfillment process, it would close two central processing units and lay off...

ING Readies Push for Term Life Sales in Banks.(Company Profile)
December 2, 2005... Intensifying its focus on a market that analysts say is becoming increasingly competitive, ING U.S. Financial Services says it is slashing rates and starting an ad campaign for its term life insurance products, which will be offered through...

In Brief: Ameriprise Settles SEC Probe for $30M.(Brief Article)
December 2, 2005... The Securities and Exchange Commission announced Thursday that it had settled enforcement proceedings against American Express Financial Advisors Inc., now known as Ameriprise Financial Services Inc., for $30 million. The Ameriprise...

In Brief: B of A Unit Reduces Prices for Trading.(Brief Article)
December 2, 2005... Banc of America Investment Services Inc., Bank of America Corp.'s primary retail brokerage arm, said Thursday that it is setting prices for online equity trades that will let self-directed brokerage customers benefit from banking relationships...

In Brief: Mellon Closes Deal For Ga. Wealth Firm.(City Capital Inc.)(Brief Article)
December 2, 2005... Mellon Financial Corp. said it had closed the purchase Thursday of City Capital Inc., a privately held, Atlanta-based investment management firm that specializes in wealthy investors and institutions. City Capital, which brings more than...

In Brief: Duke and Duchess to Test BioPay Systems.(Duke and Duchess Shoppes)(Brief Article)
December 2, 2005... Duke and Duchess Shoppes, a Columbus, Ohio, convenience store chain, has agreed to test biometric payment systems from BioPay LLC of Herndon, Va., in 10 of its more than 100 stores. BioPay, owned by Englefield Oil Co. of Heath, Ohio,...

In Brief: 305 Diebold ATMs for Philippines Bank.(Brief Article)
December 2, 2005... Land Bank of the Philippines, the country's No. 3 bank, has purchased 305 automated teller machines from Diebold Inc. of North Canton, Ohio. Diebold said Thursday that Land Bank initially purchased 180 of its Opteva through-the-wall...

Wachovia's Outsourcing Proceeds with 7-Year Deal.
December 2, 2005... The next step in Wachovia Corp.'s offshoring plans has been put into motion -- on Wednesday it signed a deal to have a former General Electric Co. unit handle some of the banking company's back-office processing. The seven-year contract,...

American Banker's 2005 Banker of the Year Awards Dinner.
December 2, 2005... Independent thinking took center stage at American Banker's 2005 Banker of the Year dinner Wednesday night. Bob Wilmers cracked up the crowd when he urged executives to resist fads, particularly lemming-like lending. "To put it...

Nonprofits Blaze Trails to Underbanked.(Product/Service Evaluation)
December 2, 2005... Some of the most innovative and important work to provide a better range of financial services to underbanked consumers is being carried out by nonprofits, often in collaboration with banks and other financial services companies. These...

U.S. Should Fight Class Status on Interchange.(Industry Overview)
December 2, 2005... The feds have the power to prevent the bank-card interchange lawsuits from becoming a national class action of 6 million merchant plaintiffs, and they should use it. The risk of certification -- destabilization of the banking system -- is too...

Web Service Saves Money in Learning Management Job.(Letter to the Editor)
December 2, 2005... To the Editor: An article in your Oct. 4 Community Banking supplement, "Computerized Help to Prove You're Training" [page 10], mentions several excellent reasons for utilizing new and innovative tools to meet mounting scrutiny from...

Executive Time Spent In Branches Pays Off.
December 2, 2005... Over a recent dinner "Cousin Sal" got me thinking about an oversight many senior managers make. This oversight is the information gap that develops between management and their stores or branches. Sal is a butcher for a national grocery...

In Brief: Citi Swap with Legg Mason Completed.(Brief Article)
December 2, 2005... Citigroup Inc. and Legg Mason Inc. completed their asset swap Thursday, with Legg acquiring Citi's asset management business and Citi taking over Legg's brokerage network. Citi transferred about $400 billion of assets under management to...

In Brief: Freddie Sees $600M Net, Hikes Payout.(Brief Article)
December 2, 2005... Freddie Mac tentatively reported Thursday about $600 million in net income for the third quarter, against a $1.6 billion loss a year earlier, and raised its common stock dividend 34% to 47 cents. The government-sponsored enterprise warned...

In Brief: Gateway Financial Targeting Raleigh.(Brief Article)
December 2, 2005... Gateway Financial Holdings Inc. of Elizabeth City, N.C., announced Thursday that its Gateway Bank and Trust Co. would open its first six branches in the Raleigh, N.C., area over the next three years. The $740 million-asset company also said...

Sandler Loan Projections Look Good for Big Banks.(Industry Overview)
December 2, 2005... Wachovia Corp., U.S. Bancorp, and other large banking companies will probably lend more this quarter than in last year's fourth quarter, says Sandler O'Neill & Partners LP. But smaller banking companies, those with assets below $19 billion,...

Spread Out, BancWest Now Aims To Fill In: Twenty new branches next year, organic growth, and deals.
December 5, 2005... After two large acquisitions that have pushed BancWest Corp. across the Rockies and the plains states, the company is adjusting its sights to focus on filling in its newly expanded 19-state service area through branching and smaller...

Top Wal-Mart Bank in Tex. Eyes N.C., Va.(Woodforest National Bank, Texas, North Carolina, Virginia)
December 5, 2005... Woodforest National Bank, which has more branches in Wal-Mart Inc. stores in Texas -- 114 -- than any other bank, is now racing into Wal-Marts in the Southeast. The $1.8 billion-asset bank, based in The Woodlands, near Houston, has opened...

Freddie CEO Talks of A Return to Flexibility.(Chief Executive Officer Richard Syron, Federal Home Loan Mortgage Corp.)
December 5, 2005... Two years after its regulator imposed a 30% capital surcharge, Freddie Mac gave the strongest signal yet that it thinks it is close to shedding that burden. The government-sponsored enterprise said more explicitly than ever before that it...

Adjusting for the Intangibles.(intangible assets)(Brief Article)
December 5, 2005... Because of consolidation and changes to accounting rules, intangible assets make up an increasingly large part of the industry's total equity. They grew nearly twice as fast as equity in the 12 months that ended June 30 and now make up 30%...

Executive Changes.
December 5, 2005... New England RBS Greenwich Capital Markets Inc., a Connecticut unit of Royal Bank of Scotland Group PLC, has hired Robin Elkowitz as associate general counsel and a managing director. Ms. Elkowitz was an associate general counsel and...

Washington People.
December 5, 2005... Tailgating Most college football fans have heard of the Capital One Bowl, the MasterCard Alamo Bowl, and the GMAC Bowl. But there is a new bowl game this year: the San Diego County Credit Union Poinsettia Bowl. The $3.1 billion credit...

Barring Disaster, GSE Reform Unlikely in 2006.(regulation of government sponsored enterprises)
December 5, 2005... WASHINGTON -- Though the holiday season is just starting, pundits are already declaring GSE reform legislation dead for 2006 -- unless of course something else dreadful happens at Fannie Mae or Freddie Mac. "There is a declining...

Compliance Costs Beset 3d-Party Brokers.
December 5, 2005... The technology demands of complying with stricter investment regulations are squeezing small third-party brokerage firms, according to the chief executive of one of the bigger outsourcing firms. Randall Ciccati, the CEO of PrimeVest, a St....

In Brief: Safeco Authorizes 10M-Share Buyback.(Brief Article)
December 5, 2005... Safeco announced Friday that its board of directors had increased the company's share repurchase authorization to 10 million, including shares that remain available for repurchase under previously approved programs. The current...

In Brief: Insurance Regulators To Hear Fincen Rules.(Financial Crimes Enforcement Network)(Brief Article)
December 5, 2005... The Treasury's Financial Crimes Enforcement Network is to present two final anti-money-laundering rules this morning at a National Association of Insurance Commissioners meeting in Chicago. Fincen representatives are to outline requirements...

In Brief: Willis Group to Buy Swedish P/C Broker.(Willis Group Holdings Ltd., Nicon Forsakringsmaklarna AB)(Brief Article)
December 5, 2005... The New York office of Willis Group Holdings Ltd., a global insurance broker, announced Friday that it had agreed to buy Nicon Forsakringsmaklarna AB, a property and casualty broker in southern Sweden that focuses on municipality clients. ...

In Brief: 5.3% Jump for Holiday Charging.(expected consumer spending for holiday season)(Brief Article)
December 5, 2005... U.S. consumers are expected to spend $120 billion this holiday season on credit, debit, and charge cards, up 5.3% from the $114 billion they spent on plastic in the 2004 holiday season. The Consumer Credit Insurance Association said Friday...

Goodwill Takes Growing Share of Equity.(Industry Overview)
December 5, 2005... The first casualty of accounting is objective truth. Consider equity, which is supposed to be the fundamental measurement of what a company is worth -- and in the banking industry, an absolute limitation on what it can become. But...

Yellen: Rate Increases to Continue.
December 5, 2005... We are not authorized to publish this article provided by Dow Jones. (c) 2005 American Banker and SourceMedia, Inc. All rights reserved. http://www.americanbanker.com http://www.sourcemedia.com

Borrowers Offered No Burn Perk.(Phoenix Mortgage Group offers discount if they spray newly constructed homes with burn retardant from No Burn Inc.)(Brief Article)
December 5, 2005... An Oklahoma City mortgage broker is offering borrowers up to a half percentage point off their loans if they get their newly constructed homes sprayed with No Burn Inc.'s toxic-mold and fire retardant. Donnie Leonard, a vice president with...

In Brief: SouthStar Production Rose 40% in Year.(SouthStar Funding)(Brief Article)
December 5, 2005... SouthStar Funding of Atlanta said Friday that its production volume rose 40%, to $6 billion, in its fiscal 2005, which ended Nov. 30. It also created a correspondent lending group during the year. The company said Friday that the two...

In Brief: PMI's Chief Executive to Retire in June.(W. Roger Haughton, PMI Group Inc.)(Brief Article)
December 5, 2005... The mortgage insurer PMI Group Inc. said Thursday that W. Roger Haughton would retire as its chief executive officer on June 1. He will remain the chairman of PMI's board until its 2007 shareholder meeting. L. Stephen Smith will...