American Banker articles from February 2000

American Banker archives from February 2000

Today's News.(Brief Article)
February 1, 2000... WASHINGTON THE FEDERAL RESERVE vice chairman expects electronic commerce to popularize new payment forms, but says they face fierce competition. Page 2 THE FINANCIAL SERVICES Coordinating Council has named an insurance industry...

Citi's Top Art Banker Heads Business Without Peer.
February 1, 2000... Late January in Manhattan. For most it's a frigid post-holiday wasteland. But for Francesca Guglielmino, it's the busy season. Frenetically hopping back and forth between Christie's and Sotheby's, she is spending her days escorting...

Challenging Citi in Mexico, Fleet Eyes Fivefold Growth.
February 1, 2000... FleetBoston Financial Corp. is about to give Citigroup Inc. a run for its money south of the border. Over the next five years, the $180 billion-asset banking company plans to boost assets in Mexico to between $4 billion and $5 billion,...

Intuit Lending Program Needs HUD Ruling.(Brief Article)
February 1, 2000... Facing the possible pullout of its mortgage partner, Countrywide Credit Industries, Quicken Loans is looking for a rule change that would let the Intuit Inc. subsidiary extend a nationwide FHA-lending program it started just two months ago. ...

While Others Quail at 'Screen Scraping,' FleetBoston Will Embrace It on New Site.(Brief Article)
February 1, 2000... A still-under-wraps on-line venture founded, developed, and funded by FleetBoston Financial Corp. is on track to make the banking company one of the first to incorporate "screen scraper" technology into its Internet strategy. The venture...

Fed Governor Hedges Bets on Payment Methods.(Brief Article)
February 1, 2000... WASHINGTON - Federal Reserve Board Vice Chairman Roger W. Ferguson Jr. expects electronic commerce to popularize debit cards and electronic wallets. Yet the ubiquity of checks, cash, and credit cards sets the stage for a fierce...

Financial Industry Group Picks Lobbyist to Lead Privacy Effort.(Brief Article)
February 1, 2000... WASHINGTON - The Financial Services Coordinating Council has named insurance industry lobbyist Allen R. Caskie as executive director of its privacy project. Starting today,Mr. Caskie will take a leave of absence from his post as chief...

Company Index.
February 1, 2000... A ABN Amro 16 AT&T 15 American Assn of Bank Directors 16 American Bank (Allentown, Pa.) 16 American Council of Life Insurers 2 Assn of Banks in Insurance 5 Associated Banc-Corp. (Green Bay, Wis.) 11 B ...

With an Eye to Web and Tech Sectors, Fleet Plans Expansion in Europe.
February 1, 2000... DAVOS, Switzerland - We are not authorized to publish this article provided by Dow Jones. Copyright c 2000 American Banker, Inc. All Rights Reserved. http://www.americanbanker.com

B of A Securities Office Opens in Silicon Valley.(Brief Article)
February 1, 2000... SAN FRANCISCO - Banc of America Securities said Monday that it has opened its first office in Palo Alto, Calif., joining a slew of other investment banks that have put staff in Silicon Valley to target the region's booming tech industries....

Summit of N.J. Hires Corporate Bank Exec.(Brief Article)
February 1, 2000... PRINCETON, N.J. - Summit Bancorp said Monday that it has hired a top executive from FleetBoston Financial Corp. to build up its corporate banking services for middle-market customers in New Jersey and Connecticut. Douglas L. Kennedy...

Retirement Seen Sign That Bank of America Expansion Era Is Over.(Brief Article)
February 1, 2000... Observers said Monday's retirement of Frank L. Gentry, chief architect of Bank of America Corp.'s aggressive expansion, signaled the end of the company's most acquisitive period. Mr. Gentry, 57, was executive vice president of corporate...

Art Finance Has Come a Long Way Since Roaring '80s.(Brief Article)
February 1, 2000... The runup of the art market in the 1980s and the steep decline that immediately followed had a profound impact on the world of art finance. As prices for painting and sculpture escalated, wealthy investors begged their bankers and...

Societe General Swings Job-Cut Ax In Its U.S. Fixed-Income Business.(Brief Article)
February 1, 2000... Societe Generale laid off two dozen members of its U.S. fixed-income staff on Monday, saying it would limit its debt businesses to those areas which had been "historically profitable." The $450 billion French bank is quitting the U.S....

Digital Video for ATM Security Catching On.(Brief Article)
February 1, 2000... The controversy over new teeth in New York's safety regulations for automated teller machines could soon be rendered moot by digital video storage. Proponents of the technology, in which images are saved as computer files rather than on...

Bank, and Thrift Mortgage Investments Rose in '99.(Brief Article)(Statistical Data Included)
February 1, 2000... While mortgage lending was in a slump, mortgage investment by banks and thrifts was on the rise last year. In the 12 months through September, the top 50 commercial banks increased their investment in mortgage loans and securities by 22%,...

Virgin Direct Ex_CEO Uncorks Wine Venture.(Brief Article)
February 1, 2000... NORWICH, England - Virgin Direct said Mark Lund is taking over today as chief executive officer, succeeding Rowan Gormley, who has left the U.K. branchless bank to form an Internet wine business in partnership with Virgin Group. Mr....

Bank One Gains Praise, Savings with Outsourcing.
February 1, 2000... More than a year into an $1.8 billion agreement with AT&T Solutions and International Business Machines Global Services, Bank One Corp. is gaining recognition as an especially effective manager of outsourcing. The Chicago banking company...

Good Reasons to Become A Bank Board Member -- And Some Bad Ones.(Brief Article)
February 1, 2000... Our latest contest for the presidency of the Schmidlap National Bank asked why people become bank directors. Donald P. Crivellone, the principal of facilitation and strategic planning at M&I Data Services in Milwaukee, gave a succinct...

Suit Says Thrift Wrote Rule To Keep Investor Off Board.(Brief Article)
February 1, 2000... The largest shareholder at Massachusetts Fincorp has sued the small thrift over a new provision in its by-laws that excludes out-of-state residents from serving on its board. Mark W. Jaindl, a resident of Allentown, Pa., and president of an...

Midcity Financial Corp.of Chicago Mulls a Sale.(Brief Article)
February 1, 2000... Midcity Financial Corp. of Chicago has hired the New York investment bank Donaldson, Lufkin & Jenrette Inc. to help it explore sale, merger, and other options. Though $1.8 billion-asset Midcity could stay independent, its president, Kenneth A....

Fed Rate Hike Seen as Test Of Banks' Hedge Strategies.(Brief Article)
February 1, 2000... Because Federal Reserve policymakers are expected to raise interest rates again on Wednesday, more trouble may be in store for banks that are already suffering from pinched profit margins on loans. Though the industry has been touted as...

Deutsche Set to Play Catch-Up in Bid for Junk Bond Leadership.(Brief Article)
February 2, 2000... Executives at Deutsche Bank, seeking to regain market share in the high-yield business that veered off track when the bank acquired Bankers Trust Corp., have embarked on an ambitious rebuilding of its junk bond group. Like many firms,...

Today's News.
February 2, 2000... WASHINGTON THE OCC IS INVITING bankers to weigh in on whether its regulations are helping or hindering the growth of Internet banking. Page 2 A SENATE LEADER predicts the House and Senate will reconcile their versions of bankruptcy...

Micropayment Start-Ups Pose Net Challenge To Credit Cards.(Statistical Data Included)
February 2, 2000... Seizing on the publicity of Internet security breaches and piggy-backing on telephone companies' data bases and billing infrastructure, a new crop of companies is about to launch an offensive against credit cards for Internet retail payment...

Merrill, Late to the Party, Offers Premium FDIC-Insured Account.(Brief Article)
February 2, 2000... Merrill Lynch & Co. has been pitching a new version of its cash management product as a major step forward in its long campaign to enter consumer banks' territory. But many of Merrill's competitors have already traveled down the same path....

Mortgage Insurance Industry Planning a PR Counterattack.(Brief Article)
February 2, 2000... A newspaper columnist calls their service "one of the crummiest deals around." Lawyers accuse more than half of the industry of making kickbacks. A U.S. senator describes its practices as "unethical." Finally, private mortgage insurers are...

Company Index.
February 2, 2000... A American Express 24 Associates First Capital 22 B Bank of Montreal 4 Bank of New York 4 Bank of Scotland 22 C Centura 6 Chase 24 Citigroup 22 Clarity 14 Community Financial Services...

Lott Predicts Accord on Bankruptcy Reform Bill.
February 2, 2000... WASHINGTON - On the eve of Senate passage of bankruptcy reform, Majority Leader Trent Lott predicted Tuesday that House and Senate lawmakers would reconcile their differing versions of the legislation fairly easily. "I think it will do...

White House Picks Two for FDIC Board.(Brief Article)
February 2, 2000... WASHINGTON - The White House has made two key nominations to the Federal Deposit Insurance Corp.'s five-member board, but whether the Senate will confirm them this year is unclear. FDIC Chairman Donna A. Tanoue, a lawyer and former...

Fed Privacy Plan Expected to Be First Out.
February 2, 2000... WASHINGTON - All four bank and thrift regulators are readying financial privacy proposals for public comment, but the Federal Reserve Board is expected to be first out of the gate this week. The Fed is to vote on its privacy proposal...

OCC Asks Banks If Its Rules Need Revision for Internet.(Office of the Comptroller of the Currency)(Brief Article)
February 2, 2000... WASHINGTON - The Office of the Comptroller of the Currency is inviting bankers to weigh in on whether its regulations are helping or hindering the growth of Internet banking. In a notice released Tuesday, the agency identified several...

Bank of N.Y. Buying 2 Trust Portfolios.(Brief Article)
February 2, 2000... Bank of New York Corp. on Tuesday agreed to buy the corporate trust business of Chicago-based Harris Bank and, separately, agreed to negotiate a similar deal with Bank of Montreal, the parent company of Harris Bank. The two acquisitions...

Pa. Bank and Charity Patching Things Up.(Brief Article)
February 2, 2000... Keystone Financial Inc. of Harrisburg, Pa., which late last year agreed to pay $30 million to settle a lawsuit, seems to have dodged another potentially costly legal action. Last week the $6.8 billion-asset banking company agreed to settle...

Deal Fallout in N.C., Philly: 423 Feb. Layoffs Scheduled.(Brief Article)
February 2, 2000... Two fast-growing regional bank companies are planning major job cuts this month in connection with acquisitions. Centura Banks Inc. of Rocky Mount, N.C., said this week that it will fire about 200 employees of Triangle Bancorp, a Raleigh,...

In Brief: Student Loan Suit Nearing a Settlement.(Brief Article)
February 2, 2000... A $2.5 billion-asset Chicago bank said it is close to settling with the Department of Justice over allegations that the bank defrauded the student loan program. Corus Bankshares Inc. said in its fourth-quarter earnings release that it has...

In Brief: Activist Investor Loses in Thrift Board Bid.(Brief Article)
February 2, 2000... Score one for the board of Yonkers (N.Y.) Financial Corp. The $506 million-asset thrift, which has been under pressure from the activist Lawrence B. Seidman, announced that three of its directors -- William G. Bachop, Donald R. Angelilli,...

In Brief: FVNB of Texas to Purchase In-State Bank.(Brief Article)
February 2, 2000... FVNB Corp. in Victoria, Tex., has a deal to buy Mid-Coast Savings Bank in Edna, Tex., for an undisclosed sum. Mid-Coast, with $43 million of assets, operates branches in Edna and Ganado, Tex. The branches would become offices of First...

No-Fee Start-Up to Focus on Loans for Revenue.(Brief Article)
February 2, 2000... An Internet-only bank set to go on-line next month plans to take the low-price approach to a new low. Claritybank.com will provide free on-line banking, bill payment and presentment, and require no minimum balances. And a customer finding a...

Deluxe Moves to Realize Value of Fast-Growing Unit.(Brief Article)
February 2, 2000... Deluxe Corp., the largest printer of bank check stock, with roughly 50% of the market, has approved a plan to break the company apart. The St. Paul company, which was founded in 1915, is to create a separately owned and operated company...

Corrections.(Brief Article)
February 2, 2000... A page 24 article Monday about Associates First Capital Corp.'s results misreported the timing of a $110 million charge to earnings. The company said it will be taken in the first quarter and is one reason that quarterly earnings will fall...

If Bids to Buy Natwest Fail, Scottish Rivals May Become Takeover Targets Themselves.
February 2, 2000... EDINBURGH - We are not authorized to publish this article provided by Bloomberg News. Copyright c 2000 American Banker, Inc. All Rights Reserved. http://www.americanbanker.com

Hostile Takeovers May Rise After Pooling Deals Bow Out.(Brief Article)(Statistical Data Included)
February 2, 2000... Hostile takeovers between banks -- a rarity in the past -- could become more frequent when the purchase method becomes the only way to account for a merger. Pooling-of-interests accounting, which fueled most of the merger boom in the...

Chase Shares Take Off After Upgrade by Merrill.(Brief Article)(Statistical Data Included)
February 2, 2000... Shares of Chase Manhattan Corp. rose 3.8% Tuesday in a mixed market for bank shares after Merril Lynch upgraded the stock, saying the company has hidden earnings potential. The stock jumped nearly $2 in early trading after Judah S....

Construction Spending Set Records in Dec.(Brief Article)(Statistical Data Included)
February 2, 2000... WASHINGTON - We are not authorized to publish this article provided by Bloomberg News. Copyright c 2000 American Banker, Inc. All Rights Reserved. http://www.americanbanker.com

In Brief: Morgan Ad Campaign to Push Private Bank.(Brief Article)
February 2, 2000... NEW YORK - J.P. Morgan & Co. today launches an advertising campaign for its U.S. private bank as part of a year-old effort to broaden the company's base of private banking clients. "We are looking for new prospective clients -- people...

In Brief: N.J. Town to Vote on ATM Surcharge BanLa.(Brief Article)
February 2, 2000... WOODBRIDGE, N.J. - Town officials here are hoping to have a ban on surcharging at automated teller machines in place by early March, showing that efforts persist at a local level to chip away at the fees. Mayor James McGreevey has...

In Brief: Falce to Seek Lid on Payday Lenders' Rates.(Brief Article)(Statistical Data Included)
February 2, 2000... WASHINGTON - Rep. John J. LaFalce vowed this week to introduce legislation soon that would prevent banks from partnering with payday lenders to offer high-interest loans. A payday loan is a short-term advance in which a lender agrees...

In Brief: TurboTax for Amex Bank's Customers.(Brief Article)(Statistical Data Included)
February 2, 2000... NEW YORK - American Express Co. is offering free Quicken TurboTax software to new customers of its on-line bank, Membership Bnking. Customers can receive the software by mail or use the on-line TurboTax for the Web and get rebates of...

Banc One 'Wealth Stores' Part of Service Unification.(Brief Article)(Statistical Data Included)
February 2, 2000... Bank One Corp is opening "wealth stores" in its branches to centralize its brokerage, trust, financial planning, insurance, and other investment services. The Chicago-based company has opened 30 such stores in the last 12 months in heavily...

Short Takes: Royal of Canada Buys Ernst & Young Unit.(Brief Article)(Statistical Data Included)
February 2, 2000... Royal Bank of Canada has acquired Ernst & Young Trust Co. (Jersey) Ltd. in the Channel Islands. Terms of the deal, which closed Monday, were not disclosed. The acquisition brings the Toronto-based company about 4,000 trust clients and...

Short Takes: Chase Cuts 32 Broker Positions in Northeast.(Brief Article)(Statistical Data Included)
February 2, 2000... Chase Manhattan Corp. has laid off 32 of the brokers who sold investment products in its Northeast branches. The move, made last week, was the first time Chase has cut back the program and was meant to "streamline the salesforce," a...

Short Takes: Nationwide Sets Up Unit Just for Bank One.(Brief Article)(Statistical Data Included)
February 2, 2000... Nationwide Financial has created a division to focus on servicing the proprietary annuity program of Bank One Corp. The move was in response to sales volume for the One Investor Annuity, which has more than $1 billion of assets under...

Short Takes: Bisys Group Names Head of Plan Services.(Brief Article)(Statistical Data Included)
February 2, 2000... Bisys Group Inc. of Little Falls, N.J., has hired Christopher M. Guarino as president of its plan services division. Mr. Guarino, 35, was previously chief operating officer of Trustar Retirement Services, a third-party record-keeping...

Short Takes: Amex Names Top-Down Investing Chief.(Brief Article)(Statistical Data Included)
February 2, 2000... American Express Asset Management Group of Minneapolis has hired Daniel J. Rivera to lead the team that manages its top-down, large-cap U.S. equity portfolios. Top-down investing involves looking at trends in the general economy and then...

Top 50 Commercial Banks in Mortgage Investments.(Brief Article)
February 2, 2000... As of Sept. 30 (dollars in millions) (part 1 of 2) Total Company Name Sept.'99 Sept.'98 %Change 1 Bank of America Corp., Charlotte, N.C. $131,433 $36,095 264.13% 2 First Union...

Largest Gains by Savings and Loans.(Brief Article)(Statistical Data Included)
February 2, 2000... (Oct. 1, 1998 to Sept. 30, 1999) Overall % Rank Change 14 Downey Financial Corp., Newport Beach, Calif. 50.19% 16 B.F. Saul Real Estate Invest, Chevy Chase, Md. 42.54 5 Bank of America Corp., Charlotte,...

Largest Declines by Commercial Banks.(Brief Article)(Statistical Data Included)
February 2, 2000... (Oct. 1, 1998 to Sept. 30, 1999) Overall % Rank Change 40 Comerica Inc., Detroit -19.69% 5 Fleet Financial Group, Boston -7.97 42 Royal Bank of Scotland, Edinburgh (Citizens Finl., R.I.) -7.26 16...

Largest Gains by Commercial Banks.
February 2, 2000... (Oct. 1, 1998 to Sept. 30, 1999) Overall % Rank Change 41 Popular Inc., San Juan, P.R. 8,494.43% 35 Associated Banc-Corp, Green Bay, Wisc. 322.17 1 Bank of America Corp., Charlotte, N.C. 264.13 ...

Top 50 Banks in Mortgage-Backed Securities Pass-Through Holdings.(Brief Article)
February 2, 2000... As of Sept. 30 (dollars in millions) (part 1 of 2) Total Company Name Sept.'99 Sept.'98 %Change 1 Bank of America Corp., Charlotte, N.C. $32,056 $6,776 373.08% 2 Chase...

Top 25 Savings & Loan Institutions in Residential Mortgage Holdings.(Brief Article)
February 2, 2000... As of Sept. 30 (dollars in millions) Total Residential Mortgage Investments % Company Name Sept. '99 Sept. '98 Change 1 Washington Mutual, Inc., Seattle $115,401 $105,948...

Santander, SocGen Said Mulling Bid for U.S. Asset Manager.(Banco Santander, Societe Generale)(Brief Article)
February 3, 2000... Banco Santander Central Hispano and France's Societe Generale are seeking to acquire an asset management company in the United States as part of a strategic alliance announced Tuesday, according to sources familiar with the Spanish bank's...

Warrants from High-Tech Start-Ups Bring Windfall to Some Small Banks.(Brief Article)(Industry Overview)(Statistical Data Included)
February 3, 2000... Investment gains at banks like Chase Manhattan Corp. in New York and Wells Fargo & Co. in San Francisco grabbed headlines during the latest rush of earnings reports, but in terms of sheer growth the blockbuster gains went to some small regional...

H&R Block Hires Norwest Exec For Full-Service Financial Push.(David Kasper)(Brief Article)(Statistical Data Included)
February 3, 2000... H&R Block Inc. has reached into the banking sector for a leader for its Financial Services Group, the unit that is spearheading the tax preparation specialist's metamorphosis into a full-service financial provider. David J. Kasper,...

Gramm Says He Will Block Further CRA, Privacy Rules.(Phil Gramm, Community Reinvestment Act)(Brief Article)
February 3, 2000... WASHINGTON - Senate Banking Committee Chairman Phil Gramm plans to shift his focus to securities and other nonbanking matters, but the Texas Republican vowed Wednesday to defend banks against more consumer privacy and community...

Company Index.
February 3, 2000... A - J American Bankers Assn 2,5 American Express 3,9 Amsouth (Birmingham, Ala.) 8 Banco Santander 1 Bank of the Somerset Hills 5 Bay View Capital 5 Brightware 7 CheckFree 10 Cisco Systems 1 ...

Senate Passes Bankruptcy Reform by Wide Margin.(Brief Article)(Statistical Data Included)
February 3, 2000... WASHINGTON - The Senate on Wednesday approved bankruptcy reform on an 83-to-14 vote and confirmed Alan Greenspan for a fourth term as chairman of the Federal Reserve Board. "The Senate has taken an important step toward real bankruptcy...

Fed and Comptroller To Unveil Proposal on Privacy Rules Today.(Federal Reserve Board, Comptroller of the Currency)(Brief Article)(Statistical Data Included)
February 3, 2000... WASHINGTON - When regulators release their financial privacy proposal today for public comment, bankers can expect a 40-page preamble, a 30-page regulation, and a pragmatic approach to the task of balancing bank and consumer rights. ...

Banks Expanding Staff And Products in Answer To Shifting Competition.(Brief Article)(Statistical Data Included)
February 3, 2000... As competition for small-business customers continues to grow, banks are adding products and beefing up staff in hopes of drawing new clients. More than 90% of banks intend to offer new products for small businesses this year, according to...

Death Throws Doubt on Plan To Drop Farm Loan Barriers.(death of Farm Credit System's chief regulator Marsha Pyle Martin)(Brief Article)
February 3, 2000... As the Farm Credit System's chief regulator, Marsha Pyle Martin championed a proposal to tear down geographic barriers to lending and provide farmers with more borrowing options. But her unexpected death of cancer last month at the age of...

Wisconsin Credit Union Shut by Regulator.(Brief Article)(Statistical Data Included)
February 3, 2000... Wisconsin regulators said this week that they had shut down a small credit union that is the subject of an embezzlement investigation and declared it insolvent. A spokeswoman for the Wisconsin Department of Financial Institutions, which...

Executive Changes: McGarry Chief Operating Officer At Ridgewood Savings of N.Y.(Brief Article)
February 3, 2000... Ridgewood Savings Bank in the Ridgewood section of New York City's borough of Queens has promoted William C. McGarry to chief operating officer. Mr. McGarry, who was also named an executive vice president, had been chief financial officer...

Automated Underwriting Seen as an Underused Tool.(Brief Article)
February 3, 2000... MIAMI - Automated underwriting has unrealized potential that goes beyond merely closing loans, according to mortgage technology specialists at a conference here. Using a computer model to grade borrowers based on demographic and...

Recent Web Start-Ups Viewed as Challengers To Fannie and Freddie.(Fannie Mae, Freddie Mac)(Brief Article)
February 3, 2000... MIAMI - The hallways at a recent mortgage technology conference here were abuzz with talk of Internet initiatives that may create competition for issuers of private-label, mortgage-backed securities and for Fannie Mae and Freddie Mac. ...

Equity Funds Still Growing, But Others Losing Investors.(Brief Article)
February 3, 2000... Equity mutual funds continued to post steady asset growth in December, but bond and hybrid funds were hit hard by redemptions, a strong signal of investors' increasing impatience with performance in these categories. Net sales of equity...

Short Takes: U.S. Bancorp Adds 4 Bond Funds to Mix.(Minneapolis)(Brief Article)
February 3, 2000... The mutual fund arm of U.S. Bancorp of Minneapolis is offering three tax-free bond funds -- for Arizona, California, and Colorado -- and a corporate bond fund. The tax-free state funds were designed to provide current income that is exempt...

Short Takes: Plain-English Service at TD Waterhouse Site.(Ask Jeeves added to website)(Brief Article)
February 3, 2000... TD Waterhouse Group has added to its Internet brokerage site Ask Jeeves, a service that responds to questions phrased in ordinary language. The service, to become available in March, "allows customers to ask very pointed questions and...

Short Takes: Fidelity Promotes Retirement Sales Execs.(Brief Article)
February 3, 2000... Fidelity Investments of Boston has promoted three sales executives for its retirement business through financial intermediaries. The appointees are: David VerMeulen, 50, senior vice president of retirement sales; Adrian Hodge, 36, eastern...

Short Takes: SBLI of Conn. Names Exec Acting CEO.(Savings Bank Life Insurance Company of Connecticut, Chief Executive Officer)(Brief Article)
February 3, 2000... Savings Bank Life Insurance Co. of Hartford, Conn., has appointed Peter L. Tedone acting president and chief executive officer. Mr. Tedone, 42, took over the roles Tuesday. The company's board is expected to name a permanent president and...

Short Takes: Cigna Starts Nine Funds Tailored for IRAs.(Individual Retirement Accounts)(Brief Article)
February 3, 2000... Cigna Corp. unveiled nine no-load mutual funds Wednesday as part of its Charter Funds family for employee retirement investment plans. The funds mirror investment offerings -- commingled funds -- already available to participants in Cigna's...

Discover's Virtual Card Follows Users Around the Web.(Brief Article)
February 3, 2000... The virtual credit card marketplace just got a little more crowded as Discover Financial Services Inc. came forward with another appeal to the consumer's competing desires for convenience and security. Discover, the credit card unit of...

J.P. Morgan to Help Launch and Staff A Global Derivatives Advisory Firm.(Brief Article)
February 3, 2000... NEW YORK - J.P. Morgan & Co. and three other companies announced plans to establish an independent company, Cygnifi, to provide information and advice to participants in the global derivatives market. Cygnifi's other investors are...

Transpoint Moves Closer To CheckFree Weight Class.(Brief Article)
February 3, 2000... Transpoint LLC this week began offering consumers the ability to pay any bill through the Internet -- even to parties unable to receive payments electronically. By making a "pay-anyone" service available, the joint venture of Microsoft...

Canadian Credit Union Seeks Slice of On-Line Pie.(Brief Article)
February 3, 2000... A Canadian credit union that has formed an Internet-only unit is counting on nationalist pride to help it win customers. Ubiquity Financial, a division of Fraser Valley Credit Union in Abbotsford, British Columbia, is taking specific aim at...