American Banker articles from June 2004

American Banker archives from June 2004

Adviser Platform, via Web.(EverBank reaches out to independent financial advisors with banking services)
June 1, 2004... After working as a financial adviser with Merrill Lynch & Co. Inc. for a number of years, Christopher Ogden had become accustomed to offering clients banking products along with financial planning services. So three years ago when he became an...

A Battle Banks Can't Win But Keep Fighting.(banking industry concern over competition from credit unions)
June 1, 2004... It's the dirty little secret of bank lobbying: Credit union bashing is a waste of time. Years of pounding on the nonprofits have yielded little headway. In fact, the banking industry's big Supreme Court victory limiting credit union...

Huntington's Turnaround: At this midtier, shades of the old Bank One.(Huntington Bancshares Inc.)
June 1, 2004... Thomas E. Hoaglin has little doubt that Huntington Bancshares Inc. would already have been a seller in the current consolidation wave if not for the changes that have occured since he became chairman and chief executive. At the beginning...

Check 21: Plenty of Talk, Except From CFOs.(US Check Clearing Act for the 21st Century)
June 1, 2004... Some Wall Street analysts are beginning to wonder why they hear so little from bankers on the subject of Check 21. After all, the Check Clearing Act for the 21st Century, signed into law last year, kicks in Oct. 28. Though some banks are...

WASHINGTON PEOPLE.(US Treasury Secretary John Snow's GSE transaction under scrutiny)
June 1, 2004... Close Enough? A financial adviser for Treasury Secretary John Snow said he was asked last year to buy more than $10 million of Treasury bonds for Mr. Snow but put the money instead into debt issued by Fannie Mae, Freddie Mac, and the...

Caution on Overdraft Marketing.(US Federal Reserve Board proposals in Regulation D to the Truth-in-Savings Act )
June 1, 2004... Though proposed interagency guidance for overdraft protection makes it clear that the Truth-in-Lending Act does not apply, it also lays out a long list of best practices for banks, thrifts, and credit unions. In the guidance, released...

Ark. Group Helps Itself with Univ. Gift.
June 1, 2004... The Arkansas Bankers Association has strengthened its long relationship with the Sam M. Walton College of Business at the University of Arkansas. The trade group recently announced that it will endow the school's chair of banking with...

In Brief: Visa Debit Card Ad Starring The Donald.(Brief Article)
June 1, 2004... Visa U.S.A. is marketing its signature debit card in a national television commercial featuring Donald Trump, the real estate magnate and star of the reality show "The Apprentice." The 30-second ad, which highlights security features like...

In Brief: First Data Signs Caribbean Contract.(Maduro & Curiel's Bank NV)(Brief Article)
June 1, 2004... First Data Corp. has signed a card processing agreement with Maduro & Curiel's Bank NV, the largest commercial bank in the Dutch Caribbean. The Denver processor annou-nced the five-year contract in a press release Wednesday. ...

In Brief: Bank One Acquires Circuit City Portfolio.(Brief Article)
June 1, 2004... Bank One Corp. has bought Circuit City Stores Inc.'s $1.8 billion private-label credit card business. The deal with the Chicago bank closed last week. The Richmond, Va., electronics retailer said in a in a press release Wednesday that...

Bill to Stop ATM Skimming Goes To Calif. Senate.
June 1, 2004... The California Assembly has passed a heavily revised bill that would require background checks on nonbank owners and distributors of automated teller machines. Majority Leader Dario Frommer, D-Glendale, who originally proposed the...

In Brief: Insurer Ace Ltd. Chooses a Lead Director.(Brief Article)
June 1, 2004... The board of directors of insurer Ace Ltd. in Hamilton, Bermuda, has appointed Robert M. Hernandez its lead director. This newly created post recognizes the responsibilities Mr. Hernandez has carried as chairman of the board's nominating...

In Brief: AIG Adding Workers' Comp to Imaging Push.(Brief Article)
June 1, 2004... AIG Cos. in New York has announced its adoption of iClaims, a document management imaging technology that electronically scans and routes claim documents to the appropriate specialist, in its primary claims offices for workers' compensation....

In Brief: Personnel Outsourcer Gets M&A Funding.(Brief Article)
June 1, 2004... Pacel Corp. in Charlotte said it has received $2.2 million from a Wall Street firm, Compass Capital Group, for planned merger and acquisition activity. Pacel provides human resources outsourcing services -- including benefits...

In Brief: Canada's Western Financial to Buy Insurer.(Brief Article)
June 1, 2004... Western Financial Group in High River, Canada, said it has agreed to acquire all the outstanding common shares of Federated Life Insurance Co. of Canada from Federated Holdings of Canada Ltd., a subsidiary of Northbridge Financial Corp. ...

Third-Party Marketers Vie for Bank Clients in Mature Market.
June 1, 2004... In the saturated third-party marketer arena, the readiest path to growth is to take bank customers away from other marketing companies, and Uvest Investment Services was notably successful at this last year. Kenneth Kehrer, the president of...

IndyMac in India: 300 Workers This Year, 1,500 by '08.
June 1, 2004... IndyMac Bancorp is the latest home lender to try to shave costs by using overseas labor. In the last few months the Pasadena, Calif., thrift company has hired 50 contractors in Delhi and Pune, near Bombay. It plans another 200 to 250 hires...

Bisys Restatement to Boost Latest Quarter's Earnings.
June 1, 2004... Bisys Group Inc., which is preparing to restate four years of earnings downward, will also adjust those of its January-March quarter -- up. That little-noted wrinkle was embedded in a two-week-old announcement by the New York financial...

E-Billing: Some B-to-B Lessons From Deere Unit.
June 1, 2004... Given the time and effort bankers who serve corporate customers have spent playing up the convenience and efficiencies that stem from the electronic settlement of business-to-business payments, why are more companies not using these systems?...

Corrections.(Correction Notice)
June 1, 2004... In the May 25 paper, a page 9 story mistakenly identified broker-dealer units of Pacific Life, AIG, and ING as clients of PNC. An editing error was to blame. They are Prudential Investments clients. In the May 26 paper, a page 5 story on...

In Brief: MidSouth of La. Acquiring Lamar of Tex.(Lamar Bancshares Inc)(Brief Article)
June 1, 2004... MidSouth Bancorp Inc. in Lafayette, La., has announced its first deal in Texas and is already making plans for expansion there. The $455 million-asset company said Thursday that it would acquire the $112 million-asset Lamar Bancshares Inc....

In Brief: Seix Resigns from Freddie Mac Board.(Brief Article)
June 1, 2004... Freddie Mac announced Friday that Christina Seix has resigned from its board. Ms. Seix had been a director since 1990. Freddie said the resignation came because SunTrust Banks Inc., a Freddie customer, is acquiring Seix Investment Advisors...

In Brief: OTS Rule to Raise Some Thrifts' Exam Fees.(The Office of Thrift Supervision )(Brief Article)
June 1, 2004... The Office of Thrift Supervision has issued a rule that would raise exam fees for many thrift holding companies starting next month. Each thrift holding company would be charged $3,000 every six months, plus additional fees based on its...

In Brief: Money Laundering Hearings Slated.(Brief Article)
June 1, 2004... The Senate Banking Committee, which has been looking into whether regulators are adequately cracking down on money laundering and terrorist financing, is scheduled to take testimony Thursday from all of the federal bank regulatory agencies on...

In Brief: N.Y. Payday Suit Going Back to State Court.(Brief Article)
June 1, 2004... New York Attorney General Eliot Spitzer won a key ruling on preemption Thursday, when a federal judge in Albany sent back to state court a suit against a Delaware state bank and its New York partners. The suit, which Mr. Spitzer filed in...

Lots of Possible Riggs Buyers.
June 1, 2004... Now that Riggs National Corp. has put itself up for sale, market watchers are drawing up their short lists of potential bidders. The candidates are known to want a dominant market share in attractive markets on the East Coast, and many have...

Banks Fight Wis. Over Decade-Old Tax Break: Incurring expenses inone state, collecting profits in another?
June 2, 2004... In the mid-1990s, the state of Wisconsin told banking companies headquartered there that it would not levy income taxes on investment subsidiaries established outside the state. Not surprisingly, banks took that information and quickly...

Cross-Linking Getting Some Crossed Up.(internet banking security)
June 2, 2004... In years past, bankers' biggest concern about the hyperlinks on their Web sites was the possibility that the companies controlling them might try to confuse people about which products and services were sponsored by the bank and which ones...

Sensitivity to Takeovers Acute for Small Business.
June 2, 2004... It is an oft-stated industry axiom that bank acquisitions drive some share of customers away from the target institution. Less often discussed is how early in the process a buyer must intervene to save a relationship. According to some...

Executive Changes.(Blaylock & Partners LP)(Robert Hendrick Jr., Stephen T. Lang, and Stephanie D. Neely appointed)(Cantor Fitzgerald LP)(Jay Ryan appointed)(Brief Article)
June 2, 2004... MIDDLE ATLANTIC Blaylock & Partners LP, a New York investment banking firm, has hired Robert Hendrick Jr., Stephen T. Lang, and Stephanie D. Neely as the managing directors of its newly formed municipal finance group. Mr. Lang will...

OCC Caught in the Middle of Bank-Realtor Fight.(Office of the Comptroller of the Currency)
June 2, 2004... The possibility that banks will one day sell houses makes the real estate brokers' lobby shudder and has galvanized it to fight against any incursion it perceives. For the last three years the most obvious threat has been a joint proposal...

In Brief: CIB Marine of Wis. Agrees to Fixes.(CIB Marine Bancshares Inc. of Pewaukee, Wisconsin)(Federal Reserve Bank of Chicago)
June 2, 2004... CIB Marine Bancshares Inc. of Pewaukee, Wis., has agreed to beef up corporate governance and internal controls, the Federal Reserve Board said Tuesday. In an 11-page agreement with the Federal Reserve Bank of Chicago, CIB said it would...

In Brief: GAO: FDIC Computers Vulnerable.(Federal Deposit Insurance Corp)(Government Accounting Office)(Brief Article)
June 2, 2004... The Federal Deposit Insurance Corp.'s computer system is not fully secure, according to a Government Accounting Office report released last week that detailed concerns the GAO had raised in a February audit. The weaknesses "place critical...

In Brief: Regulators to Testify on Riggs, UBS.(Riggs National Corp.)
June 2, 2004... Two top regulators are scheduled to testify today at a House Financial Services subcommittee hearing on risk management and supervisory lapses at Riggs National Corp. and UBS AG. Thomas C. Baxter Jr., the general counsel and executive...

Welcome to Our Bank -- But Don't Buy the Stock.(securities dealers)
June 2, 2004... I have written previously about how securities were sold in the early 20th century. A bond salesman might bike north from Boston with his clothes on his back and a basket of bonds in front. Bankers would tell him the interest rate they wanted,...

U.S. Bancorp to Offer MoneyGram Transfers.(MoneyGram Payment Systems Inc)(contracts)
June 2, 2004... In an expansion of its remittance programs, U.S. Bancorp announced an agreement Tuesday with Viad Corp's MoneyGram Payment Systems Inc. to offer money transfers at branches. The Minneapolis banking company will start the rollout in August...

Market Changes, New Focus May Have Led NPC to Block.(National Processing Inc.)
June 2, 2004... Prospective buyers of National Processing Inc., the country's second-largest merchant processor, are looking at a company that has recently changed tracks. During the past few years National Processing, of Louisville, which is 83% owned by...

Payday Lenders and the Military.(military families finance)(Brief Article)
June 2, 2004... InCharge Institute of America, a nonprofit organization specializing in credit counseling, reported in one of its publications that many military families are becoming deeply in debt to payday lenders. In the summer 2004 issue of Military...

Commercial Banks Ranked by Assets: On Dec. 31, 2003. Dollars in thousands.(Illustration)
June 2, 2004... (part 1 of 3) 1 JPMorgan Chase Bank New York 2 Bank of America NA Charlotte 3 Citibank NA New York 4 Wachovia Bank NA Charlotte 5 Bank One NA Chicago 6 Wells Fargo Bank NA San Francisco ...

Hancock Moves Top Exec to Head Mutual Fund Unit.(John Hancock Funds Inc.)(James A. Shepherdson appointed)
June 2, 2004... An executive overlap in John Hancock's merger with Manulife Financial Corp. that forced a Hancock exec out of the retirement services unit has led the Boston insurer to install him as CEO of its mutual fund business. Hancock named James A....

In Brief: Peoples in Ohio Buys 2d Agency of 2004.(Peoples Insurance Agency Inc)(Barengo Insurance Agency)(Brief Article)
June 2, 2004... Peoples Bancorp Inc. in Marietta, Ohio, said Tuesday that its insurance subsidiary, Peoples Insurance Agency Inc., has bought Barengo Insurance Agency, a full-service company that offers property and casualty, life, and health insurance to both...

In Brief: Envestnet Buys Firm For Technology Link.(EnvestnetPMC Inc. buys Net Asset Management)(Brief Article)
June 2, 2004... EnvestnetPMC, a Chicago managed accounts provider, said Tuesday that it has closed its purchase of Net Asset Management, a Los Angeles provider of online managed account technology. The post-merger company, Envestnet Asset Management, is to...

In Brief: President Takes Over At ICI, a Fund Group.(Investment Company Institute)(Paul Schott Stevens)(Brief Article)
June 2, 2004... The Investment Company Institute said Tuesday that Paul Schott Stevens has succeeded Matthew P. Fink as president of the mutual fund trade group in Washington. Mr. Fink retired after 33 years with the institute but is to remain a...

In Brief: Manulife Financial Hires EVP-Counsel.(Jean-Paul Bisnaire appointed as executive vice president)(Brief Article)
June 2, 2004... Manulife Financial Corp. in Toronto has announced the hiring of Jean-Paul Bisnaire to be the executive vice president, business development, and general counsel. Mr. Bisnaire, a partner in the Davies Ward Phillips & Vineberg LLP law firm,...

Merrill Says Blended-Rate Loan Fills a Middle Gap.(Merrill Lynch Credit Corp)
June 2, 2004... The details may be complicated, but the head of Merrill Lynch & Co.'s home lending arm says its clients want its new "blended-rate" mortgage, especially now that rates are starting to climb. This is partly because Merrill's financial...

In Brief: OFHEO: Home Price Growth Under 1%.(Office of Federal Housing Enterprise Oversight)(Brief Article)
June 2, 2004... The Office of Federal Housing Enterprise Oversight said Tuesday that first-quarter home price appreciation from the fourth quarter plunged to a little less than 1%, or a 3.8% annual rate. Prices increased 7.7% from a year earlier. ...

In Brief: Beazer Homes Credit Facility Expands.(Brief Article)
June 2, 2004... Beazer Homes USA Inc. said Tuesday that an existing bank credit facility has been increased by 67% to $750 million. The Atlanta home builder said $200 million of the facility, which will mature in June 2008, is a term loan. The rest is a...

In Brief: $1.7M Jury Ruling Against Carreker.(Earnings Performance Group Inc.)
June 2, 2004... A federal jury in New Jersey has awarded $1.7 million to a consulting firm that claimed Carreker Corp. misappropriated confidential information by hiring away a group of its employees. Carreker, a vendor of imaging technology, said it is...

In Brief: NEC Starts Financial Services Unit.(NEC Solutions (America) Inc)
June 2, 2004... NEC Solutions (America) Inc., a unit of the Japanese computer maker NEC Corp., has started a division that will focus on marketing to financial services companies. The Rancho Cordova, Calif., company detailed the new division's plans at...

In Brief: SVPCo. Backs Fed on Check Standard.(Small Value Payments Co)(Federal Reserve Board)(Brief Article)
June 2, 2004... Small Value Payments Co., which is developing a national check image exchange system, has endorsed the Federal Reserve Board's move to adopt a standard format for digital check images. Though there has been debate in the industry over...

In Brief: OCC to Examine Its Monitoring of Riggs.(Office of the Comptroller of the Currency)(Riggs National Corp)(Brief Article)
June 2, 2004... The Office of the Comptroller of the Currency has launched an internal review of its Bank Secrecy Act enforcement and other anti-laundering oversight of Riggs National Corp.'s lead bank subsidiary. The OCC's supervision of Riggs is...

Nat City Guidance Leads To Lower Analyst Estimates.(National City Corp)
June 2, 2004... Guidance from management during National City Corp.'s analyst conference last week has prompted several analysts to lower their second-quarter and full-year earnings estimates. The analysts cited expected hedging inefficiencies and lower...

Citing Ethics, Fidelity Keeps Eye on Assets.(Fidelity Investments)
June 3, 2004... Fund scandals and market conditions have left many companies clutching a leaking purse of assets, making Fidelity Investments -- thus far scandal-free -- certain it can develop and retain assets in its brokerage unit as competitors take the...

Is Retreat By Mortgage Insurers Sign Of Strength?(Industry Overview)
June 3, 2004... Over the last few years some mortgage insurers said they would avoid certain "deep-cede" captive reinsurance relationships that would require them to share large portions of their policy premiums with lenders. But lately some of the most...

Canada Vote Again a Factor In U.S. M&A.(mergers and acquisitions)(Industry Overview)
June 3, 2004... The decision by Canadian Prime Minister Paul Martin to schedule a national election for this month has dashed Canadian bankers' hopes for an early reversal of a policy against large bank mergers, and could renew their interest in U.S....

New Exemptions for Banks.
June 3, 2004... After three years of intense negotiations, the SEC proposed a rule to implement the Gramm-Leach-Bliley Act's broker-dealer provisions. Story on page 4 Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

In Brief: Survey: CFOs Upbeat About Jobs in 3Q.(Brief Article)(Industry Overview)
June 3, 2004... Banking and finance companies are among the most optimistic about hiring accounting and finance professionals, a survey of chief financial officers found. The survey, which Robert Half International Inc. of Menlo Park, Calif., conducted in...

In Brief: Synovus Acquires Trust One of Tennessee.(Synovus Financial Corp.)(Trust One Bank of Memphis)(Brief Article)
June 3, 2004... Synovus Financial Corp. of Columbus, Ga., said Monday that it has completed its $110 million acquisition of Trust One Bank of Memphis. The deal, announced in December, gives the $22 billion-asset company six branches and $424 million of...

In Brief: Questions Raised On Farmer Mac.(United States Federal Agricultural Mortgage Corp.)(Brief Article)
June 3, 2004... A top Treasury Department official raised doubts Wednesday about whether Farmer Mac has fulfilled its mission. Greg Zerzan, the Treasury's deputy assistant secretary for financial institutions, told the House Agriculture Committee that the...

In Brief: Trade Groups Join Forces to Fight CUs.(banking associations call for end to tax-exempt status of credit unions)(Brief Article)
June 3, 2004... The nation's three banking trade groups are pooling their resources and lobbying muscle to fight credit unions' tax-exempt status. The American Bankers Association, the Independent Community Bankers of America, and America's Community...

In Brief: Secretary Proposes More Respa Reform.(mortgage settlement rules)(Brief Article)
June 3, 2004... The secretary of Housing and Urban Development, Alphonso Jackson, said Wednesday that the agency will try again to reform mortgage settlement rules, but only after new proposals are vetted publicly and receive ample bipartisan support. ...

SEC Plan Details Exemptions for Broker-Dealers.(Securities and Exchange Commission)
June 3, 2004... After three years of intense negotiations with banks and their regulators, the Securities and Exchange Commission proposed a rule Wednesday to implement the Gramm-Leach-Bliley Act's broker-dealer provisions. The proposed rule defines the...

Fincen Says New Office Will Make Launder Exams Better.(Financial Crimes Enforcement Network)(money-laundering exams)
June 3, 2004... Financial Crimes Enforcement Network Director William Fox was expected to announce plans today for a new office inside his agency that aims to help federal regulators refine their money-laundering exams. His testimony was to come a day...

ABA's Best Practices for Immigrant Business.(American Bankers Association)(Industry Overview)
June 3, 2004... Banks looking to attract a larger share of fast-growing immigrant populations would be wise to hire bilingual employees, keep close ties with immigrant communities, and create flexible underwriting standards to help customers establish credit....

Direct-Mail Solicitations Near a 2-Year High.(Industry Overview)
June 3, 2004... Rebounding from last year's pullback, credit card direct-mail solicitations rose in the first quarter to the highest level in almost two years. Synovate, a Tarrytown, N.Y., market research subsidiary of Aegis Group PLC, said Tuesday that...

Plenty of Issuing Partners Still Available in China.(Industry Overview)
June 3, 2004... With China's credit and debit card markets seen as poised for rapid growth, U.S. issuers considering ventures may be heartened to know that most large Chinese banks have not paired up with U.S. partners. Of the major U.S. card companies,...

Top Bank Holding Companies by Number of Employees: Full-time equivalent, on Dec. 31, 2003. Dollars in thousands.(Illustration)
June 3, 2004... (part 1 of 2) 1 Citigroup Inc. New York 2 Wells Fargo & Co. San Francisco 3 Bank of America Corp. Charlotte 4 J.P. Morgan Chase & Co. New York 5 Wachovia Corp. Charlotte 6 Bank One Corp....

Efforts to Boost Distribution Through Banks.(Fidelity Investments Institutional Services Co.)
June 3, 2004... Banks in the past 18 months have shown increasing interest in Fidelity Investments' international and fixed-income funds, according to the president of the division that serves the bank channel. Fidelity Investments Institutional Services...

Trying to Head Off an Overreaction.(Industry Overview)
June 3, 2004... An executive at Fidelity Investments says he fears a governmental overreaction to the mutual fund scandals that could cause crippling "over-regulation." "Our concern is that there not be any sort of overreaction here," said Robert...

Words, Deeds: Statements and proposals by Fidelity since the mutual fund investigations began.(Brief Article)
June 3, 2004... Specialist Alternative Fidelity investment management president Abigail Johnson and general counsel Eric Roiter meet with SEC to urge support of electronic alternative to NYSE specialist system (Oct. 2003) Late-Trading Alert ...

In Brief: American Home to Process for Signature.(mortgage processing)(Brief Article)
June 3, 2004... American Home Mortgage Investment Corp. said Wednesday that it will provide private-label mortgage processing for Signature Bank, a $2.2 billion-asset New York bank. Signature employees will handle the sales efforts, then pass customers to...

In Brief: Flurry of Deals as Check 21 Approaches.(Check Clearing for the 21st Century Act)
June 3, 2004... With the clock ticking down to the October implementation of the Check Clearing for the 21st Century Act, imaging technology vendors are reporting a surge in interest in their products. Several of these providers announced signings at BAI...

In Brief: Farragut's Neumann Joins Javelin Research.(Brief Article)
June 3, 2004... Edward L. Neumann, the well-known managing director of Farragut Group LLC, has joined Javelin Strategy and Research's roster. The deal was announced Wednesday. Mr. Neumann will head Javelin's new strategy consulting practice as a...

Absence of Fees Trumping Fears in Online Banking.
June 3, 2004... Despite some lingering concerns over the security of online banking transactions and the fees that some banks charge for them, more and more U.S. consumers are using e-banking. According to research by TowerGroup, 29.3 million U.S....

Smith Barney: Fed Hike Would Boost Bank Stocks.(higher rates will improve profit margins)
June 3, 2004... Bankers and analysts who have been trying to persuade investors not to sell bank stocks when interest rates rise say higher rates will improve profit margins. Most traders say the argument may not convince investors, but Albert D....

In Brief: Vice Chairman Layton to Leave JPM Chase.(JP Morgan Chase and Co.)(Brief Article)
June 3, 2004... The first of several top executive departures expected at J.P. Morgan Chase & Co. is under way. Donald H. Layton, 54, a vice chairman who has been running JPMorgan Chase's retail operations, said Wednesday that he would resign after his...

In Brief: 500 to Lose B of A Mortgage Center Jobs.(Bank of America)(Brief Article)
June 3, 2004... Bank of America Corp. said Wednesday that it is laying off about 500 employees at its nationwide mortgage processing centers because of a slowdown in loan refinancing. The Charlotte company also announced plans to open a regional auto-loan...

In Brief: Hacking Spurs Sovereign to Reissue Cards.(Sovereign Bancorp)(Brief Article)
June 3, 2004... Sovereign Bancorp Inc. is reissuing 83,000 Visa debit cards following a hacking of Internet merchant Web sites, the Philadelphia company confirmed Wednesday. Dick Ehst, a spokesman for Sovereign, but said his company was not the only card...

In Brief: Bank Shares Rise with Market.(Brief Article)
June 3, 2004... Bank stocks flip-flopped Wednesday, but like most of the market ended the day up. Thrifts underperformed both banking stocks and the broad market, however. The American Banker thrift index fell 1.3%, driven down by yet another bad day for...

A Subprime Servicer Aiming for Friendly.(Ocwen Financial )
June 4, 2004... Ocwen Financial Corp. is conducting an experiment in the middle of the call center floor at its facility here. Eight employees from several departments have been assigned to service 80,000 home loans in the West Palm Beach, Fla., servicer's...

JPM/Bank One Update as Layton Exits.(J.P. Morgan Chase, Donald H. Layton)
June 4, 2004... J.P. Morgan Chase & Co. is nearing completion of its $58 billion acquisition of Bank One Corp., with Federal Reserve Board approval the last of its main obstacles. While long-term issues remain, including the choice of a brand for the...

Senators Hit Secrecy Act Policing, Mull Fixes.
June 4, 2004... Senate Banking Committee leaders on Thursday continued the withering criticism of regulators' policing of money launderers, recommending a short-term fix and floating sweeping change that could consolidate all enforcement at the Treasury...

Imaging Against Fraud.(Brief Article)
June 4, 2004... Branches are getting technology that lets bank employees compare and verify the customer's signature on a check at the teller window. Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

People.
June 4, 2004... A Course in Homer Eliot Spitzer evoked Homer -- Simpson, that is -- to explain exactly what is wrong with the attitude in corporate America. To emphasize his call for more accountability from business and regulators, the New York...