American Banker articles from November 2005

American Banker archives from November 2005

A Bill-Payment Shift.
November 1, 2005... Enticed by convenience and rewards, more people are putting recurring bills on debit cards. Story on page 17 (c) 2005 American Banker and SourceMedia, Inc. All rights reserved. http://www.americanbanker.com http://www.sourcemedia.com

Visa Eases Small-Ticket Restrictions.(Visa USA)
November 1, 2005... To drive volume, Visa U.S.A. will announce today that it plans to lower the fees it charges certain retailers to accept credit and debit cards for purchases of under $15 and will raise to $25 the maximum purchase for which qualifying merchants...

Branching Trends Show Small Cities Picking Up.(bank branches)(Industry Overview)
November 1, 2005... Big cities such as Chicago, New York, and Dallas are getting hundreds of new branches every year, but smaller markets -- Greeley, Colo., and Bowling Green, Ky., for example -- are adding them even faster. And though big banks are driv-ing...

A Higher Bar For Insurers On Laundering.(insurance industry regulations to prevent money laundering)
November 1, 2005... WASHINGTON -- Insurance companies will soon have to file suspicious-activity reports and take other precautions against money laundering under final rules federal regulators released Monday. The rules, which have been in the works for more...

Fifth Third Seeking a Consumer Boost.(Fifth Third Bancorp)
November 1, 2005... Facing customer attrition in the double digits, Fifth Third Bancorp is improving service and tweaking rates to catch up to competitors. The effort comes amid tough competition in its midwestern markets and against a backdrop of rumors that...

Sovereign CEO Says Investors Will Warm to Deals.(Jay Sidhu, chief executive officer, Sovereign Bancorp Inc.)
November 1, 2005... Comments chief executive Jay Sidhu made in September are coming back to haunt the deals Sovereign Bancorp Inc. announced last week. Six weeks ago, Mr. Sidhu said valuation disparities between likely buyers and sellers made searching for...

Report: Phishing On the Rise, and Getting Costlier.
November 1, 2005... WASHINGTON -- Phishing has become an increasingly widespread and costly type of computer intrusion, according to a Financial Crimes Enforcement Network report released Monday. In its SAR Activity Review, the agency said that reported...

In Brief: Union of Va. Buying Prosperity for $36M.(Union Bankshares Corp., Bowling Green, Virginia, to acquire Prosperity Bank and Trust)(Brief Article)
November 1, 2005... Union Bankshares Corp. of Bowling Green, Va., announced Monday that it is acquiring the $130 million-asset Prosperity Bank and Trust in Springfield, Va., for $36 million in cash. By buying Prosperity, the $1.8 billion-asset multibank...

In Brief: Discount Mortgage Program from CUNA.(Credit Union National Association)(Brief Article)
November 1, 2005... Sixty credit unions have signed on to a Credit Union National Association program that offers discounted mortgages to families with household income at or below the median for their communities. Under the trade group's Home Loan Payment...

In Brief: Partial Win for Thrift Fighting Shareholder.(Independence Federal Savings Bank of Washington)(Brief Article)
November 1, 2005... The management of Independence Federal Savings Bank of Washington has fended off a shareholder's attempt to take over the thrift, but in the process it lost another seat on the board of directors. At a meeting last week, shareholders...

In Brief: Comerica, HSBC Close U.K. Asset Firm Sale.(HSBC Holdings PLC)(Farmlington Holdings Ltd.)(Brief Article)
November 1, 2005... Comerica Inc. in Detroit and HSBC Holdings PLC in London said Monday that they had closed their sale of the U.K. asset manager Framlington Group Ltd. to Axa SA, the insurance giant headquartered in Paris. Comerica's investment management...

In Brief: Unit of Marsh Divests Wholesale Broker.(Marsh Inc. sells Crump Group Inc. to affiliate of J.C. Flowers and Company LLC)(Brief Article)
November 1, 2005... Marsh Inc., the risk and insurance services arm of Marsh & McLennan Cos. Inc., said it had completed the sale of Crump Group Inc., its U.S.-based wholesale broking operation, to an affiliate of J.C. Flowers & Co. LLC, a New York private equity...

In Brief: Price, Complexity Seen as HSA Obstacles.(health savings accounts)(Brief Article)
November 1, 2005... Concerns about pricing and education are deterring many employers from offering health savings accounts and high-deductible health plans, according to the Council of Insurance Agents and Brokers. The Washington-based lobbying group surveyed...

FundQuest's Platform Push Focuses on Post-Retirement.
November 1, 2005... FundQuest's chief executive says he hopes the Boston wealth management arm of BNP Paribas will spur growth with a turnkey platform of investment products that brokers and registered investment advisers can use to retain customers after...

Credit Unions with the Most Assets: On June 30, 2005. Dollars in thousands.(Illustration)
November 1, 2005... (part 1 of 2) 1 Navy Federal Credit Union Merrifield, Va. 2 State Employees Credit Union Raleigh 3 Pentagon Federal Credit Union Alexandria, Va. 4 Golden 1 Credit Union Sacramento 5 Orange...

Credit Unions with the Most Deposits: On June 30, 2005. Dollars in thousands.(Illustration)
November 1, 2005... (part 1 of 2) 1 Navy Federal Credit Union Merrifield, Va. 2 State Employees Credit Union Raleigh 3 Pentagon Federal Credit Union Alexandria, Va. 4 Golden 1 Credit Union Sacramento 5 Boeing Employees Credit Union...

In Brief: Certegy Gets First Canadian Customer.(Certegy Inc. to manage credit card portfolio of Home Capital Group)(Brief Article)
November 1, 2005... The St. Petersburg, Fla., transaction processor Certegy Inc. has won its first card contract in Canada; it has agreed to manage the 30,000-account portfolio of Home Capital Group Inc. of Toronto. The five-year agreement was announced...

In Brief: Lorain, Huntington In ATM Access Deal.(Lorain National Bank of Ohio, Huntington National Bank, automated teller machines)(Brief Article)
November 1, 2005... Lorain National Bank of Ohio has signed an agreement to give its customers free access to the more than 800 automated teller machines operated by Huntington National Bank of Columbus. Huntington, has 170 machines in northern Ohio, and it...

In Brief: Chase, United Offer Small-Business Card.(J.P. Morgan Chase and Co., United Air Lines Inc.)(Brief Article)
November 1, 2005... JPMorgan Chase & Co. has started offering a cobranded credit card with United Airlines that uses rewards to attract small-business customers. The United Mileage Business Awards Visa card gives cardholders two United frequent flier miles...

In Brief: Processor, Sentias Form a Partnership.(CreditCard Transactions Inc., Sentias Software Corp.)(Brief Article)
November 1, 2005... The Sherman Oaks, Calif., merchant processor CreditCard Transactions Inc. is offering its e-commerce customers Web site management software from Sentias Software Corp. of North Vancouver, British Columbia. The two companies announced the...

Record Results At IndyMac, But Margin Concerns.(IndyMac Bancorp Inc., Pasadena, California)
November 1, 2005... IndyMac Bancorp Inc. of Pasadena, Calif., set yet another production record in the third quarter, but analysts worried that it traded margin for market share by relying on the low-margin conduit business. Its earnings rose 31% from a year...

In Brief: Regulatory Panel For First American.(John P. Dwyer, First American Corp.)(Brief Article)
November 1, 2005... The Santa Ana, Calif., title insurer and data provider First American Corp. has named John P. Dwyer as its director of governmental and regulatory affairs. First American also said it has formed a committee to oversee such issues. The...

In Brief: Title Insurer Group Names President.(Rande K. Yeager, American Land Title Association)(Brief Article)
November 1, 2005... Rande K. Yeager, the president and chief executive of Old Republic Title Insurance Group of Minneapolis, has been named the president of the American Land Title Association's board of governors. He will hold that position at the trade group...

In Brief: Orix Buying Control Of Houlihan Lokey.(Orix Corp., Houlihan Lokey Howard and Zukin)(Brief Article)
November 1, 2005... The Japanese financial services company Orix Corp. is expanding its U.S. operations by acquiring a controlling interest in the investment bank Houlihan Lokey Howard & Zukin. Orix would establish a holding company that would own Houlihan...

Debit Cards Winning More Of Recurring Bill-Pay Market.
November 1, 2005... Enticed by convenience and rewards programs, a growing number of people are paying recurring bills with their debit cards. Though the option has been available for some time, use has surged recently, partly because of incentive programs...

In Brief: Remote-Capture Demand Strong.(use of check imaging systems)(Brief Article)
November 1, 2005... Corporate customers are clamoring for remote capture, according to NetDeposit Inc. of Salt Lake City. The Zions Bancorp. unit said Friday that its bank customers are now installing more than 100 of its remote-capture systems each week. ...

In Brief: Wis. CU Tests Corillian Product.(University of Wisconsin Credit Union)(Corillian's Intelligent Authentication software )
November 1, 2005... University of Wisconsin Credit Union has become the first customer to test Corillian Corp.'s second anti-fraud product. Corillian's Intelligent Authentication software evaluates people's online habits, including the hardware they use to...

In Brief: CheckFree Renews BECU Bill-Pay Deal.(Brief Article)
November 1, 2005... The Seattle credit union BECU has renewed its electronic bill payment contract with CheckFree Corp. CheckFree announced the "multiyear" extension Monday but did not specify the length of the agreement. The Atlanta company is the top...

Correction.(Correction Notice)
November 1, 2005... In the Oct. 28 paper, the page 1 story "Credit Quality Decline: More than a Blip?" misstated the change in Comerica's loan-loss reserve in the third quarter. It shrank by $30 million from June 30 to Sept. 30. (c) 2005 American Banker and...

In Brief: Update Puts Storm Branch Closings at 192.(bank branches affected by Gulf Coast hurricanes, 2005)(Brief Article)
November 1, 2005... One hundred ninety-two bank branches are still closed on account of the Gulf Coast hurricanes, the Federal Deposit Insurance Corp. said Monday. In an update posted to the agency's Web site, it said 162 branches remained closed because of...

In Brief: Report Details Bidding War for Westcorp.(Wachovia Corp., Banco Santander Central Hispano SA)(Brief Article)
November 1, 2005... Wachovia Corp. beat out Banco Santander Central Hispano this summer in a bidding war for the Irvine, Calif., banking company Westcorp, according to a published report. The $532 billion-asset Wachovia, of Charlotte, also agreed to acquire...

In Brief: Buyer of Atlantic Bank Files to Raise $1B.(New York Community Bancorp Inc.)
November 1, 2005... New York Community Bancorp Inc. on Monday filed a shelf registration to raise as much as $1 billion through various securities, and said it would use part of the proceeds to acquire Atlantic Bank. New York Community, of Westbury, announced...

Mortgage Only U.S. Letdown for Amro.(ABN Amro Bank NV's U.S. banking profits)
November 1, 2005... ABN Amro Bank NV of Amsterdam said Monday that its U.S. banking operations' profit rose in the third quarter from a year earlier, but executives said the mortgage business had a lackluster quarter. Tom de Swaan, ABN Amro Bank's chief...

Synovus Makes a Deal And Wants to Make Others.(Synovus Financial Corp.)
November 1, 2005... Synovus Financial Corp., whose president and chief executive, Richard Anthony, told investors this summer that it was interested in becoming more acquisitive, announced its second acquisition in as many months Monday. The Columbus, Ga.,...

Editor's Note.(Editorial)
November 1, 2005... In the aftermath of Hurricane Katrina, American Banker's Laura Thompson Osuri spoke to many Gulf Coast bankers about the storm's impact on their banks and their communities. Several were particularly worried about one competitor, the $4.8...

Software Can Help You Cash In on Vault Cash.(Industry Overview)
November 1, 2005... Vault cash is a nonearning asset, and efficiently managing cash should be a high priority. By instituting better vault cash management practices, banks can immediately improve earnings - and what bank doesn't want to make more money? One...

When They Say Menu, They Mean It.(marketing at Bank of Lenawee, Adrian, Michigan)
November 1, 2005... Bank of Lenawee in Adrian, Mich., has copied some recipes from the big restaurant chains. Its branch employees, like those at TGI Friday's and Applebee's, wear polo shirts and casual pants and offer colorful "menus" - but of bank...

The Ultimate Drive-Through?(Symphony Bank)(Brief Article)
November 1, 2005... Symphony Bank, a $15 million-asset Indianapolis start-up, wants to be the bank of choice for Hummer owners. The retail office it will open in this month (it has operated out of a temporary facility since July) will feature drive-through...

Feeding a Hunger for Learning.(Yardville National Bancorp receives Community Foundation of New Jersey's "corporate philanthropist of the year" award )
November 1, 2005... Tracey Destribats had no idea what she was getting into when Yardville National Bancorp of Hamilton, N.J., sent her to check out the Trenton Area Soup Kitchen. "It was right after I joined the company in 1999," said Ms. Destribats, now...

Bad Chemistry: When Merged Cultures Clash.(bank mergers)
November 1, 2005... Three years ago, announcing a takeover deal, Bank of Granite Corp. in North Carolina said it was particularly pleased that the target's president and chief executive would be joining it. Bank of Granite's CEO, John Forlines, was in his...

Disaster Plan Served Mississippi Bank Well.(Hancock Holding Co.)
November 1, 2005... On the morning of Tuesday, Aug. 30, the day after Hurricane Katrina ripped through the Gulf Coast, about 30 senior employees of Hancock Holding Co. met in front of its severely damaged Gulfport, Miss., headquarters. Though they had other...

Community Banks with Highest Returns on Assets and Equity.(Illustration)
November 1, 2005... LEAGUE TABLE ROA in 2Q of 2005. Dollars in thousands (part 1 of 2) Rank 1 Bryant State Bank S.D. 2 Citizens National Bank Evans City, Pa. 3 Community State Bank Milbank, S.D. 4 ...

GE to Start Credit Card Outsourcing For Banks.
November 2, 2005... General Electric Co. is entering the agent banking business, an increasingly competitive market since June, when MBNA Corp. agreed to sell itself to Bank of America Corp. GE's consumer finance arm figures banks looking to outsource their...

Hearing Set On CU Tax Exemption.(credit unions)
November 2, 2005... Twenty years ago, the House Ways and Means Committee -- then chaired by Illinois Democrat Dan Rostenkowski -- briefly mulled a tax on credit unions as part of a package of reforms, only to drop it like a red-hot coal in the face of fierce...

A Change in FDIC's Agenda?: Appointment seen smoothing bankers' path.(United States. Federal Deposit Insurance Corp.)
November 2, 2005... WASHINGTON -- President Bush on Tuesday selected Federal Deposit Insurance Corp. Chairman Donald Powell to be the federal government's liaison to rebuilding efforts in the Gulf Coast region. The appointment's timing is not set yet, but...

SunTrust: Deal Altered Its In-Store Model.
November 2, 2005... A year after buying National Commerce Financial Corp. of Memphis, SunTrust Banks Inc. of Atlanta has adopted many of its in-store branch practices. "As part of the acquisition we looked at everything they did and where did it fit...

Executive Changes.
November 2, 2005... Midwest Marshall & Ilsley Corp. of Milwaukee has hired Gregg W. George as a senior vice president and the director of Cedar Street Advisors, its newly formed provider of wealth management services for "ultra-high-net-worth" customers. ...

In Brief: ABA Suing NCUA Over Pair of Charters.(American Bankers Association)(National Credit Union Administration)(Brief Article)
November 2, 2005... The American Bankers Association filed two lawsuits challenging the National Credit Union Administration's decision to let credit unions in Utah and Pennsylvania add several counties to their fields of membership. Edward Yingling, the...

In Brief: 3d Home Loan Bank Registers with SEC.(United States. Securities and Exchange Commission)(Brief Article)
November 2, 2005... The Federal Home Loan Bank of Boston announced late Monday that it has registered with the Securities and Exchange Commission. The bank is only the third of the 12 Home Loan banks to do so, despite a Aug. 30 deadline set by the Federal...

Baker, Bachus Vie to Chair Industry Panel.(Richard Baker)(Spencer Bachus)
November 2, 2005... WASHINGTON -- House Financial Services Committee Chairman Michael G. Oxley made it official Tuesday: he will not seek reelection next year. The race to succeed him as committee chairman began in earnest early this year, and the current...

In Brief: Ala.'s Banc Corp. Getting a New Name.(Brief Article)
November 2, 2005... The Banc Corp. in Birmingham, Ala., said that it is changing its name to Superior Bancorp and the name of its subsidiary The Bank to Superior Bank. The bank's name change will take place in January, and the holding company's name change...

In Brief: Orders Lifted Against 2 Va. Financial Units.(Brief Article)
November 2, 2005... Virginia Financial Group Inc. in Culpeper announced Tuesday that regulators have terminated the formal agreements under which two of its bank subsidiaries had been operating for the last 20 months. The $791 million-asset Planters Bank and...

Check 21 Proving More Complex than Planned.
November 2, 2005... A year after the Check Clearing for the 21st Century Act took effect, and supposedly triggered a race to use image exchange networks, many bankers are still at the starting blocks. Bankers now say they were initially overoptimistic about...

Fiserv, Honeywell In Deals to Sell Check Interests.(Fiserv Inc.)(Honeywell International Inc.)(M and F Worldwide Corp.)
November 2, 2005... Two deals in the past two days will soon have a pair of check businesses bouncing to new owners. The banking technology outsourcing provider Fiserv Inc. said Tuesday that it had sold its minority stake in the check processor Intria Items...

Accredited Beats Target, Reports A Strong Margin.
November 2, 2005... The San Diego nonprime specialist Accredited Home Lenders Inc. said third-quarter earnings jumped 15.1% from a year earlier, to $41.3 million, and its net gain-on-sale margin, after hedging, dropped only 43 basis points, to a still-lofty 3.07%....

HSAs Popular But Hard Business to Enter.(health savings accounts)(Brief Article)
November 2, 2005... Banks that have offered health savings accounts -- a product made possible by a federal law enacted late in 2003 -- like them, but not many have tried out HSAs yet. Integrating the banking and insurance aspects of health savings accounts...

New Product Made Wis. Bank Into a National Pacesetter.
November 2, 2005... To say Jim Smith, the chief executive officer of Webster Financial Corp., was excited about health savings accounts when he first heard about them in February 2004 would be an understatement. After listening to a presentation at an American...

Health Accounts Serve a Need at Two Small Banks.
November 2, 2005... Executives at American Chartered Bank in Schaumburg, Ill., were not sure what to expect when the bank began offering health savings accounts in January 2004, but so far they have been more than pleased. The $1.8 billion-asset unit of...

Comment: Health Spending a Card Revenue Chance.
November 2, 2005... With health-care-related ex-penses continuing to rise and consumers and businesses alike struggling with how best to pay for them, payment-card-issuing financial institutions are in a unique position to deliver a practical solution. ...

In Brief: HSA Contribution Limits to Rise Next Year.(health savings accounts)(Brief Article)
November 2, 2005... The Treasury Department and the Internal Revenue Service have announced higher maximum contribution levels for health savings accounts in 2006. The limits, unveiled on Friday, reflect indexing for cost-of-living increases. Next year the...

In Brief: Health Insurance Cost 9% More This Year.(Brief Article)
November 2, 2005... Health insurance premiums continued to rise this year, according to a national survey by the California-based Kaiser Family Foundation. The average health insurance premium has risen 9.2% this year, according to the survey released...

In Brief: Confusion Seen Among Potential HSA Users.(health savings accounts)(Brief Article)
November 2, 2005... Health savings accounts may be a valuable tool to help employers save money on health care, but investigating and choosing such plans remains challenging, according to a Council of Insurance Agents and Brokers report. The report, which was...

In Brief: Provider Introduces Disbursement System.(HSA Trustee Services)(Brief Article)
November 2, 2005... HSA Trustee Services, a Wisconsin health savings account provider, has announced the introduction of Magic-Wrighter Inc.'s disbursement system. The Quick Disbursement On-Demand Transfer system developed by Magic-Wrighter Inc. lets HSA...

In Brief: Wal-Mart Includes HSAs in Health Plan.(Brief Article)
November 2, 2005... Wal-Mart Stores Inc., the nation's largest employer, has said it plans to launch a low-cost health insurance plan that includes a health savings account option. The Arkansas retail giant introduced its Value Plan on Oct. 24. The company,...

White House Touts Benefits To Banks from Offering HSAs.(health savings accounts)
November 2, 2005... WASHINGTON -- For the last year and a half, Roy Ramthun has been preaching the gospel of health savings accounts on behalf of the Bush administration, first as an official of the Treasury Department and now of the White House. "I've done...

Next Estate Changes Its Name.(Next Estate Communications Inc.)(Green Dot Corp.)(Brief Article)
November 2, 2005... The Los Angeles prepaid card provider Next Estate Communications Inc., the parent of the Green Dot Financial network, has changed its name to Green Dot Corp. The company said Tuesday that the name change is meant to align its corporate...

In Brief: Discover: Filings To Result in Charge.
November 2, 2005... Morgan Stanley warned that its Discover Bank would take a charge of up to $250 million in its fiscal fourth quarter, which will end Nov. 30, because of last month's spike in consumer bankruptcy filings. The charge will reflect the reduction...

In Brief: Tex.'s First American Acquires Govolution.(Brief Article)
November 2, 2005... The Fort Worth merchant acquirer First American Payment Systems LP has acquired Govolution Inc., an Arlington, Va., provider of software that lets federal, state, and local government agencies accept electronic payments. First American...

In Brief: TSYS Renews Pact With Metavante.(Brief Article)
November 2, 2005... Total System Services Inc. has renewed its contract to provide processing services for Metavante Corp., the technology subsidiary of the Milwaukee banking company Marshall & Ilsley Corp. The Columbus, Ga., transaction processor, which is...

Correction.(Correction Notice)
November 2, 2005... In the Nov. 1 paper, the page 1 story "Visa Eases Small-Ticket Restrictions" misidentified Michael Nardy. He is the chief executive of Electronic Payments Inc. and writes for The Green Sheet. (c) 2005 American Banker and SourceMedia, Inc....

In Brief: Bush Supports Senate's Deposit Bill.(George W. Bush)(Brief Article)
November 2, 2005... The Bush administration said Tuesday that it supports the deposit insurance reform bill the Senate Banking Committee passed last month, including a provision that would let regulators determine if coverage level should be tied to inflation. ...

In Brief: PNC Strengthens First Data Connection.(Brief Article)
November 2, 2005... PNC Financial Services Group Inc. said Tuesday that it had agreed to extend for five years a merchant-acquiring joint venture with First Data Corp. and to increase its stake in the company. PNC, of Pittsburgh, did not say how much it would...

In Brief: Popular of Puerto Rico Purchases E-Loan.(Brief Article)
November 2, 2005... Popular Inc. of San Juan, Puerto Rico, said Tuesday that it had completed its $300 million acquisition of E-Loan Inc. of Pleasanton, Calif. The deal was announced Aug. 3. Popular said it would use the online lender to enlarge its consumer...

UBS Profits Soar 71%, Setting Record.
November 2, 2005... We are not authorized to publish this article provided by Bloomberg New. (c) 2005 American Banker and SourceMedia, Inc. All rights reserved. http://www.americanbanker.com http://www.sourcemedia.com

Sovereign Starts a Trade Bank Office in Hong Kong.
November 2, 2005... Sovereign Bancorp Inc. of Philadelphia said Tuesday it has opened its first foreign office: an international trade banking one in Hong Kong. Sovereign Trade Services (HK) Ltd. was unveiled on the heels of the $63 billion-asset Sovereign's...

Sidhu Faces Investors.(Jay Sidhu, chairman of Sovereign Bancorp)(Brief Article)
November 3, 2005... The Sovereign Bancorp chairman continued to defend his controversial deals but acknowledged "a lack of good communication from use." Story on back page (c) 2005 American Banker and SourceMedia, Inc. All rights reserved....

Baker to White House: This Is the Bill You Want.(Representative Richard Baker)(regulation of Fannie Mae's, Freddie Mac's mortgage portfolios, funding)(Interview)
November 3, 2005... WASHINGTON -- Rep. Richard Baker says he is out to set the record straight: his bill to reform the government-sponsored enterprises does exactly what the Bush administration wants. In an interview in his Capitol Hill office, the Louisiana...

How Deal for MBNA Altered One Market: Calif. competitors cite B of A retreat from aggressive CD rates.(Bank of America's rates in California for certificates of deposit)
November 3, 2005... Bank of America Corp.'s effort to stay below the national 10% market share cap on deposits is clearly evident in the California market, bankers and analysts say. In September the Charlotte company suddenly cut its deposit rates in the...

In Brief: Credit Suisse Reports 42% Profit Rise.(Brief Article)
November 3, 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

In Brief: Fed Hikes Priced-Services Fees.(Federal Reserve Board to increase fees on services provided to banks)(Brief Article)
November 3, 2005... The Federal Reserve Board voted Wednesday to charge banks an average of 3% more for priced services beginning Jan. 1. The 12 Federal Reserve banks process, deliver, sort, and return checks for banks as well as provide electronic payment...

In Brief: Goodwill Setback for SunTrust.(SunTrust Banks Inc.'s lost-profit lawsuit against the government)(Brief Article)
November 3, 2005... A federal court has declined to award lost-profit damages to SunTrust Banks Inc. in a supervisory goodwill lawsuit filed against the government. The case was first brought by American Federal Bank FSB of Greenville, S.C., a thrift acquired...

Executive Changes.(News Briefs)
November 3, 2005... New England Northeast Bancorp of Lewiston, Maine, has named Marcel Blais to the newly created job of chief operating officer at its $576 million-asset Northeast Bank. Mr. Blais had been the senior vice president of retail banking...

Liberty of La. Pitching CDs as CRA Investments.(Liberty Bank and Trust's marketing of certificates of deposit)
November 3, 2005... In the two months after Hurricane Katrina, Liberty Bank and Trust Co. in New Orleans lost roughly $40 million of deposits, as customers left town and the steady flow of municipal deposits dried up. But the bank's chief executive hopes it...

Authentication Guidelines Spark Lots of Questions.
November 3, 2005... The Federal Financial Institutions Examination Council's updated guidelines for online authentication, released last month, have created confusion about what technology banks must adopt, and when they must do so. Part of the problem is...