American Banker articles from September 2004

American Banker archives from September 2004

Image-Only Settlement Passes a Critical Test.(electronic check processing)(Industry Overview)
September 1, 2004... The banking industry has been through a lot in its quest to move check settlement from paper to electronics -- debates about technology, merger-related delays, confusion over operational and legal issues, and doubts about whether the whole...

As a City Battles for Talent, Lender Offers (Student) Aid.(American Trust and Savings Bank to work with business community to encourage college graduates to settle in Dubuque, Iowa)
September 1, 2004... Dubuque, Iowa, has no trouble attracting students to its three colleges, but like many other small cities and towns, it has a much harder time keeping the students there after they graduate. American Trust and Savings Bank is hoping to...

Old Territorial Lines Blur as Northeast Deals Proliferate.(banking industry in New England and Middle Atlantic states)(Industry Overview)
September 1, 2004... Fans of the Boston Red Sox and the New York Yankees may never see eye to eye, but the banking industry is erasing the border between New England and the Middle Atlantic states. The main reason seems to be the frantic consolidation in the...

A Rare Case Of Agency Disharmony.(administration of Community Reinvestment Act exams)
September 1, 2004... It was not supposed to happen like this. The four federal bank and thrift agencies, which pride themselves on their ability to work together to produce common rules, are splintered over simpler Community Reinvestment Act exams. Even...

Executive Changes.
September 1, 2004... MIDWEST Household International Inc. of Prospect Heights, Ill., has hired John J. Haines as the managing director of its auto finance business. Mr. Haines was the senior vice president of North American operations at GE Fleet Services....

Leach Works Crowd, Shelby Gets Bronx Cheer.(financial services firms host party for members of House Fiancial Services Committee and Senate Banking Committee during Repbulican National Convention, New York, 2004)
September 1, 2004... The Gramm-Leach-Bliley Act came to life Monday night high above the streets of Manhattan as part of the festivities surrounding the Republican National Convention. Former Sen. Phil Gramm and Rep. Jim Leach, the primary authors of the 1999...

Yield Management: Making Your Rates Just Good Enough.(Column)
September 1, 2004... A cartoon I saw recently shows a flight attendant announcing: "Fasten your seat belts, make sure your seat is in an upright and locked position, your tray table stowed, and do not look at the ticket of the person next you to see if he paid...

Chicago FHLB Hires Thomas as CEO.(J. Mikesell Thomas, Federal Home Loan Bank of Chicago)(Brief Article)
September 1, 2004... The Federal Home Loan Bank of Chicago has hired J. Mikesell Thomas as its president and chief executive officer. He succeeded Charles A. Huston, who had been its acting president since July 1, filling for Alex J. Pollock, who left after 12...

Bank Group's Bad-Loan Perk.(SN Servicing Corp. offers special services to members of America's Community Bankers)
September 1, 2004... SN Servicing Corp., a specialist in distressed assets, has begun offering special pricing and services to members of America's Community Bankers. The Eureka, Calif., company guarantees to make a tentative bid for a troubled loan or...

Growth Seen in Equity Lines with First-Lien Position.
September 1, 2004... By some estimates, home equity lines of credit have risen to 20% of the origination market this year. The product appeals to borrowers who want to avoid paying mortgage insurance and enjoy the flexibility of drawing funds whenever they...

RBC Dain Rauscher Touts Unified Managed Account.
September 1, 2004... RBC Dain Rauscher says it hopes a new unified managed account platform will help it target mass-affluent customers with services once reserved for the ultra-wealthy. "I think that unified managed accounts enable us to provide managed...

In Brief: China Life Holds Focus on Market Share.(China Life Insurance Co.)(Brief Article)
September 1, 2004... Executives at China Life Insurance Co. said Tuesday that they do not plan to change their strategy of focusing on strong premium growth and a high market share as competitors play down expansion in favor of profitability, according to Dow Jones...

In Brief: MetLife's Disability-Policy Inflation Rider.(Brief Article)
September 1, 2004... MetLife Inc. announced the introduction Tuesday of an automatic-increase benefit rider to let policyholders keep pace with inflation without having to supply evidence of continued insurability. The rider, which is available on certain...

In Brief: MassMutual Hires Distribution Exec from GE.(Gary F. Baker, Massachusetts Mutual Life Insurance Co., GE Financial)(Brief Article)
September 1, 2004... Massachusetts Mutual Life Insurance Co. has hired Gary F. Baker to fill the newly created post of head of strategic distribution in the company's savings product division. Mr. Baker joins the division after 18 years at GE Financial...

In Brief: JPMorgan in One Group Melding, CEO Pick.(JPMorgan Funds to merge operations with One Group Mutual Funds)(George C.W. Gatch named president of Banc One Investment Advisors)(Brief Article)
September 1, 2004... JPMorgan Funds and One Group Mutual Funds said Tuesday they plan to combine their operations, two months after their parent companies merged. The companies said they expect the merger of overlapping fund portfolios and the election of a...

Discover Backs Biometric Payments Vendor.(Discover Financial Services deal with Pay By Touch)
September 1, 2004... Discover Financial Services says its deal with Pay By Touch, whose system lets consumers pay for purchases by putting a finger on a reader, will help it attract more merchants to promote the Discover card. "We are hoping to drive more...

UBS Has Deal for Schwab's Capital Markets Unit.(Charles Schwab Corp. to sell Schwab Soundview Capital Markets to UBS AG)
September 1, 2004... Ending weeks of speculation about its institutional arm, Charles Schwab Corp. announced a deal to sell Schwab Soundview Capital Markets to UBS AG and plans to exit its other institutional businesses over the next 60 days. The San Francisco...

In Brief: Revamped Plan for Call Report Center.(bank regulators plan imlementation of central data repository)(Brief Article)
September 1, 2004... Banking regulators said Tuesday that they plan to start using a central data repository for call reports in the first half of next year. The joint project between the Federal Reserve Board, the Federal Deposit Insurance Corp., and the...

In Brief: B of A Chief Meeting With Mass. Officials.(Kenneth D. Lewis of Bank of America Corp.'s employment commitments in acquisition of FleetBoston Financial Corp., Massachusetts)(Brief Article)
September 1, 2004... Bank of America Corp.'s chief executive, Kenneth D. Lewis, is in Boston this week meeting with state and local leaders to discuss how his company plans to keep employment commitments it made acquiring FleetBoston Financial Corp. on April 1. ...

In Brief: North Fork Investors OK GreenPoint Deal.(North Fork Bancorporation Inc. acquisition of GreenPoint Financial Corp.)(Brief Article)
September 1, 2004... Shareholders of North Fork Bancorp. Inc. in Melville, N.Y., approved its acquisition of GreenPoint Financial Corp. at a special meeting Tuesday. GreenPoint shareholders voted to approve the transaction at a separate meeting Monday. North...

In Brief: Two AmeriCredit Directors Resign.(Gerald J. Ford, Edward H. Esstman)(Brief Article)
September 1, 2004... AmeriCredit Corp. said Tuesday that Gerald J. Ford and Edward H. Esstman had resigned from its board and that former chief executive Michael R. Barrington would not stand for reelection at the annual shareholders meeting in November. Mr....

Kerry Supports GSE Reform.(Democratic presidential candidate John Kerry's position on government sponsored enterpises)
September 1, 2004... In his first substantive comments on the issue, Sen. John Kerry said he supports a revamp of the regulation of Fannie Mae and Freddie Mac. In comments posted Monday on the National Association of Home Builders' Web site, the Democratic...

Discover Cites Bank Partners; Won't Say Who.(Discover Financial Services)
September 2, 2004... The head of Discover Financial Services said his firm has gotten a boost from MBNA Corp.'s announcement that it will issue American Express-branded cards once the legal way is clear, and will soon announce financial institution partners of its...

Now Hiring, Particularly On Wall St.(Industry Overview)
September 2, 2004... Though it has not returned to 1999 levels, the rate of hiring by banks and other financial service companies has picked up this year. Compensation consultants and executive recruiters say the pickup has been especially strong in areas such...

Rethinking Disaster Recovery.
September 2, 2004... John Bryant says Hope Coalition America, an emergency financial guidance group founded after the 9/11 attacks, has signed up 250 companies to date. Story on page 11 Copyright 2004 Thomson Media Inc. All Rights Reserved....

In Colorado, Buyer Group Strikes Twice.(Centennial Bank Holdings Inc., Fort Collins, Colorado)(financier and executive John M. Eggemeyer)
September 2, 2004... After buying Centennial Bank Holdings Inc. in Fort Collins, Colo., a group of investors led by John M. Eggemeyer did not waste any time making a second deal to nearly triple Centennial's size. The $809 billion-asset Centennial said...

Bush Will Refloat Plan On Social Security.(U.S. President George W. Bush)
September 2, 2004... When President Bush goes to the podium tonight to accept his party's nomination, he is expected to breathe new life into an old pledge: to let workers privately invest some of their Social Security contributions. He is likely to reiterate...

New Win for Preemption.
September 2, 2004... A federal judge in Michigan has ruled that the OCC and not a state agency has the authority to regulate Wachovia's mortgage subsidiary. Story on page 3 Copyright 2004 Thomson Media Inc. All Rights Reserved....

Visit by B of A Chief Is Seen Soothing Mass. Officials.(Kenneth D. Lewis of Bank of America Corp. meets with officials in Massachusetts regarding job cuts at recently acquired FleetBoston Financial Corp.)
September 2, 2004... Massachusetts officials angered by Bank of America Corp.'s job cuts after its takeover of FleetBoston Financial Corp. seemed placated Wednesday after B of A executives said they would honor employment commitments in the region. Kenneth D....

OCC Wins Another Case Involving A Wachovia Unit.(jurisdiction of Office of the Comptroller of the Currency)(rights for subsidiaries of national banks)
September 2, 2004... Another federal judge has upheld the Office of the Comptroller of the Currency's contention that operating subsidiaries of national banks enjoy the same rights as the banks, but states are not convinced that the matter is settled. Judge...

Pipeline.(consumer activist group plans campaign against Countrywide Financial Corp.)(TransUnion Settlement Solutions acquires AccuPost Corp.)
September 2, 2004... In the Crosshairs A consumer activist group plans to pressure Countrywide Financial Corp. to change its subprime unit's practices and stop lobbying against legislation to curb predatory lending. Bruce Marks, the chief executive of...

Home Price Gains Rev Up to 2.21% in 2Q.(report from the Office of Federal Housing Enterprise Oversight)
September 2, 2004... Home price appreciation picked up dramatically in the second quarter, contributing to the highest 12-month rise in prices since 1979, the Office of Federal Housing Enterprise Oversight said Wednesday. Average prices climbed 2.21%, versus...

529 Plan Sales Up amid Scandal, Disclosure Issues.(529 college savings plans)
September 2, 2004... The 529 college savings plan market grew to $43 billion of assets in the second quarter despite the product's attachment to the increasingly scrutinized mutual fund industry and position in an uncertain regulatory environment. Chris Lynch,...

Fiserv Buys P/C Insurance Outsourcer.(Fiserv Inc., property/casualty insurance, Results International Systems Inc.)(Brief Article)
September 2, 2004... Fiserv Inc., a Brookfield, Wis., information management systems and services outsourcer, said Wednesday that it had bought Results International Systems Inc., a provider of property/casualty insurance outsourcing services. The deal, which...

Most Efficient Bank Holding Companies: In the first quarter of 2004, among the largest 500. Dollars in thousands.(Illustration)
September 2, 2004... (part 1 of 3) 1 First Financial Holdings MHC Renton, Wash. 2 New York Community Bancorp Inc. Westbury 3 Intervest Bancshares Corp. New York 4 Amboy Bancorp. Old Bridge, N.J. 5 Doral...

Executive Changes.
September 2, 2004... SOUTHEAST James Monroe Bank of Arlington, Va., has hired Joseph C. Fouse as its senior vice president of operations and technology. Mr. Fouse came to the $341 million-asset unit of James Monroe Bancorp Inc. from Fidelity National...

Financial Guidance Group, Born of 9/11, Fanning Out.(Hope Coalition of America offers financial counseling to disaster victims)
September 2, 2004... Volunteer organizations are typically at their best in the aftermath of a disaster, quickly arriving on the scene to provide food, water, shelter, and, sometimes, spiritual counseling. What they often do not provide, says John Bryant, the...

Targeting Students and Parents at the Same Time.(banks promote online banking to college students)
September 2, 2004... Banks are using incentives to encourage college students to open accounts online and connect the accounts with their parents'. PNC Financial Services Group Inc. is making a big push in this area. A linking service from the Pittsburgh...

In Brief: Open Solutions Buying Datawest.(Open Solutions Inc., Datawest Solutions Inc.)(Brief Article)
September 2, 2004... The core processing software maker Open Solutions Inc. is acquiring Datawest Solutions Inc., a technology outsourcer to Canadian credit unions, for $38.3 million in cash. Datawest, of Vancouver, also manages Canada's largest network of...

In Brief: M&I, Clients Joining Endpoint.(Marshall and Ilsley Corp. joins Endpoint Exchange network)(Brief Article)
September 2, 2004... Marshall & Ilsley Corp. of Milwaukee announced Wednesday that it had joined the Endpoint Exchange check image exchange network, whose operator it bought this summer. M&I said it was the fifth of the 50 banks with the most assets to join....

In Brief: American of Pa. Using CheckFree.(American Bank, Allentown, Pennyslvania, ChecFree Corp.)(Brief Article)
September 2, 2004... American Bank of Allentown, Pa., has switched its Internet bill- payment service to CheckFree Corp. of Atlanta to offer online presentment and improve fund availability for its customers. Sandra Berg, a senior vice president and the senior...

Some Regional Banks Downgraded.(regional bank stocks)(Industry Overview)
September 2, 2004... Regional bank stocks have found favor with investors recently in an otherwise choppy equity market, and some analysts are concerned about the group's valuation. Sandler O'Neill & Partners LP downgraded shares of some regionals this week to...

In Brief: Heartland, Blue River of Indiana to Merge.(Heartland Bancshares Inc., Blue River Bancshares Inc.)(Brief Article)
September 2, 2004... Heartland Bancshares Inc. of Franklin, Ind., announced Wednesday that it would acquire Blue River Bancshares Inc. of Shelbyville, Ind., for $19 million in stock. Blue River's $121 million-asset Shelby County Bank would merge into the $180...

In Brief: Surprise Exit for Colonial BancGroup Exec.(chief operations officer Tanya A. Mayne)(Brief Article)
September 2, 2004... Colonial BancGroup Inc. of Montgomery, Ala., said Wednesday that chief operations officer Tanya A. Mayne resigned unexpectedly Monday after only a year in the job. The $18 billion-asset company gave no explanation and did not name a...

In Brief: Vanguard Won't Follow in Index Fee Cut.(Vanguard Group's fee structure on index funds)(Brief Article)
September 2, 2004... Vanguard Group said Wednesday that it has no plan to alter its fee structure in response to Fidelity Investments' cutting fees on five stock index funds. Fidelity's move, announced Tuesday, may be temporary, Vanguard said. Fidelity,...

In Brief: Fed OKs Nat City Deal for Wayne Bancorp.(Federal Reserve Board, National City Corp. agreement to buy Bancorp Inc.)(Brief Article)
September 2, 2004... The Federal Reserve Board has approved National City Corp.'s agreement to buy Wayne Bancorp Inc. Wooster, Ohio. The banks announced the $180 million cash deal June 4. The Fed announced its approval Tuesday and said no branches need be sold....

In Brief: Parkvale of Pa. to Acquire W.Va. Bank.(Parkvale Financial Corp., Monroeville, Pennyslvania)(Advance Financial Bancorp, Wellsburg, West Virginia)(Brief Article)
September 2, 2004... Parkvale Financial Corp. of Monroeville, Pa., announced Wednesday that it had agreed to buy Advance Financial Bancorp of Wellsburg, W.Va., for $38 million in stock. The $321 million-asset Advance has seven branches in West Virginia and...

Morgan's Exit From a Risky Business Line.(J.P. Morgan Chase and Co. may have dodged being investigated for dealings with wholesale money transmitter)
September 3, 2004... Despite continued heat from Manhattan District Attorney Robert Morgenthau, J.P. Morgan Chase & Co. appears likely to avoid regulatory sanctions over its dealings with a wholesale money transmitter. That's at least in part because JPMorgan...

Fed's Image Processing To Cost More than Paper.(Federal Banks announce fees for replacing paper checks with digital images for processing purposes)
September 3, 2004... Banks have known for a while that it will take time to realize the cost savings and efficiencies that are supposed to result from the replacement of paper checks with digital images. But they may not have had as powerful a symbol of that...

For Wells Fargo, a Fill-In Purchase in a Hot Market.(Wells Fargo and Co. to purchase First Community Capital Corp., Texas)
September 3, 2004... After four years of pursuit, Wells Fargo & Co. has enticed Nigel Harrison, the chairman of First Community Capital Corp., to sell the Houston company. It is Wells' first Texas bank deal in five years. The San Francisco company has...

More B of A Steps to Ease N.E. Backlash.(Bank of America Corp. addresses concern about layoffs at its newly acquired FleetBoston Fiancial Corp. bank branches)
September 3, 2004... Kenneth D. Lewis is back on offense in New England, pledging Wednesday to move one of Bank of America Corp.'s four main businesses to Boston to make up for jobs lost in the acquisition of FleetBoston Financial Corp. The Charlotte company's...

People.(J.P. Morgan Chase and Co. surveys dog owners on their political opinions)(Fifth Third Bancorp opens 1,000th branch)(Canada's Toronto Dominion Bank acquires Banknorth Group Inc. of Portland, Maine)
September 3, 2004... Opinions Unleashed Hours after Sen. John Kerry called for stricter controls over credit card issuers last week, the largest U.S. Visa issuer called the Democratic presidential candidate a dog -- a poodle, to be precise, though the bank...

In Brief: California Fights Appeal of Privacy Decision.(Brief Article)
September 3, 2004... California's attorney general and insurance commissioner have filed a brief defending the new state privacy law. Six federal agencies and three banking trade groups are appealing a June 30 decision of the U.S. District Court in Sacramento,...

In Brief: FDIC Asks Congress for Hiring Flexibility.(Federal Deposit Insurance Corp.)(Brief Article)
September 3, 2004... The Federal Deposit Insurance Corp. asked Congress for more hiring flexibility to help it recruit top candidates for key jobs and forestall future layoffs. FDIC Chairman Donald Powell has been pushing for more human resources flexibility...

In Brief: Credit Union Execs' Donations Favor GOP.(donations from credit union executives to Republican Party organizations)(Brief Article)
September 3, 2004... Campaign contributions by credit union executives overwhelmingly favor the Republican Party and President Bush's reelection. The executives have made 125 individual contributions of more than $200, totaling more than $75,000, to the...

IRS Enlists Banks to Push E-Pay.(Internal Revenue Service turns to banks to help it get customers to use its Electronic Federal Tax Payment System)
September 3, 2004... Frustrated in trying to persuade small-business owners to pay taxes online, the Internal Revenue Service is turning to banks for help. The IRS created its Electronic Federal Tax Payment System three years ago in hopes of enticing businesses...

New Gripes About Rabobank Deal.(shareholders aim to block Rabobank Group acquisition of Farm Credit Services of America)
September 3, 2004... A group of Farm Credit Services of America shareholders is trying to block the Omaha lender's sale to Rabobank Group of the Netherlands and keep control of it in the hands of local farmers. About 50 shareholders, who are also borrowers,...

Dormancy Fees a Growing Issue for Gift-Card Issuers.
September 3, 2004... The issue of "dormancy fees" attached to prepaid gift cards -- penalties for not using a card for a set period -- is gaining legislative attention and will probably remain a hot topic for some time. A handful of states, including...

In Brief: Cross Country, FTC Reach a Settlement.(Cross Country Bank Inc., Federal Trade Commission)(Brief Article)
September 3, 2004... Cross Country Bank Inc., which has run afoul of several states' attorney general's offices, is the subject of a proposed settlement with the Federal Trade Commission over collection practices. The FTC has alleged that two collection...

In Brief: JCB, Retailer Offer Chip Card in Taiwan.(JCB Company Ltd. in partnership with E. Sun Bank and Taiwan Wacoal Corp.)(Brief Article)
September 3, 2004... JCB Co. Ltd., Japan's largest credit card issuer, has started offering a Java-based smart card product through a partnership with E. Sun Bank of Taiwan and Taiwan Wacoal Corp., a Japanese apparel company. The Wacoal I-Card, issued by E. Sun...

In Brief: Life Policy Sales Volume Down 2% in 2Q.(Brief Article)(Industry Overview)
September 3, 2004... After increasing in the first quarter of the year, sales of individual life insurance policies in the United States fell 2% in the second quarter from the year earlier, according to Limra International. In the first half, policies sold...

In Brief: B of A Hires a New Chief for Its Fund Arm.(Christopher Wilson, Bank of America)(Brief Article)
September 3, 2004... Bank of America's investment management arm said Thursday that it had hired Christopher Wilson to head its mutual fund businesses. Mr. Wilson is to run all operations of the Columbia Management mutual fund business, which includes Nations...

In Brief: ING, China Partner Get OK for Beijing Site.(ING Group NV, Beijing Capital Group joint venture)(Brief Article)
September 3, 2004... The global financial services provider ING Group NV and Beijing Capital Group said they have regulatory approval for a Beijing branch of their life insurance joint venture, China Daily said Thursday. The Beijing branch of ING Capital Life...

JPMorgan Funds-One Group to Keep Courting Mass Affluent.
September 3, 2004... The planned integration of JPMorgan Funds with the One Group of mutual funds will let the company focus on expanding its institutional money market fund and unified managed account businesses and on continuing to target mass-affluent clients,...

In Brief: Arbitration Award to Cost Astoria $2.1M.(Astoria Financial Corp.)(Brief Article)
September 3, 2004... Astoria Financial Corp. has been ordered to pay an arbitration award that will result in an after-tax charge this quarter of $2.1 million, or 3 cents a share. The award, ordered by the American Arbitration Association, settles a...

In Brief: Subprime Lender Aames' Profit Surges.(Aames Financial Corp.)(Brief Article)
September 3, 2004... Aames Financial Corp.'s net income surged 129% in its fiscal fourth quarter from a year earlier, to $24 million, the Los Angeles subprime mortgage lender reported Thursday. Profits for its fiscal year, which ended June 30, tripled, to $90.7...

In Brief: Warehouse-Like Facility for $25M.(Gateway Bank FSB provides QuickSale facility to Capital Alliance Funding Corp.)(Brief Article)
September 3, 2004... Gateway Bank FSB of San Leandro, Calif., has provided a $25 million QuickSale term facility to Capital Alliance Funding Corp. The three-year facility, announced Thursday, supplements a $9 million warehouse line that the San Francisco...

In Brief: Nat City Unit Lends $25M on Apartments.(Red Mortgage Capital Inc. unit of National City Corp. makes loan to Brewers Yard Apartments, Columbus, Ohio)(Brief Article)
September 3, 2004... Red Mortgage Capital Inc., a unit of Cleveland's National City Corp., has provided a $25 million loan on a recently built apartment building in its home city of Columbus, Ohio. The fixed-rate loan on Brewers Yard Apartments has a 30-year...

In Brief: Calif. Luxury Homes Set Records in 2Q.(home values, California)(Brief Article)
September 3, 2004... Luxury home values in Los Angeles, San Diego, and San Francisco rose more than 10% from a year earlier, to new highs, in the second quarter, according to First Republic Bank's prestige home index. Average luxury home prices in San Francisco...

Asset-Based Lenders' Expanding Role in Treasury Management.
September 3, 2004... Some middle-market companies that have always relied on asset-based lenders for working capital are now turning to them for treasury management services in addition to a revolving line of credit. Image processing and other technology allows...

Letters To The Editor: Big Banks Aren't Pioneers in Check Image Exchange.(Letter to the Editor)
September 3, 2004... To the Editor: I would like to clarify some information about the story you ran Wednesday on page 1 about check image exchange. The article implies that the work under way at Key Bank and Bank One is truly pioneering. It is not, though...

Letters To The Editor: Disclosure Issue: When Reporter Joins a Bank.(Letter to the Editor)
September 3, 2004... To the Editor: American Banker has reported on regulators going to work for banks, for example in "OCC Urges Cooling-Off Period for Lead Examiners" [Aug. 27, page 4]. Equally in need of mention and scrutiny is the passage to banks of the...

Factors Can Help Your Bank Help Small-Business Clients.(Column)
September 3, 2004... Small-business banking is good for the banking business. News abounds of large-bank marketing efforts directed at building their small-business relationships; they are doing everything from knocking on doors to redesigning their Web sites. ...

Ways to Promote Paperless Banking.(Column)
September 3, 2004... There's something wrong with this picture. The very banks that urge their customers to adopt Web banking and forgo paper checks are plastering their Web sites with messages about the dangers of e-banking. Similarly, institutions invest...

In Brief: Fiserv Plans Seal to Guard IRDs.(Fiserv Inc. to use digital seal to protect against check fraud)(Brief Article)
September 3, 2004... Fiserv Inc. plans to use a digital seal to validate image replacement documents that it produces under the Check Clearing for the 21st Century Act, an executive says. The seal, meant to protect against forgery or alteration of a substitute...

In Brief: Scanning Swift for Laundering.(Carreker Corp. to enhance software to monitor for signs of money laundering)
September 3, 2004... Carreker Corp. says it is enhancing some software to monitor Swift messages for clues to money laundering. The Dallas company, which sells payments software and consulting services, said it plans to add features to its Carreker Online Risk...

Corrections.(Correction Notice)
September 3, 2004... In Tuesday's paper, a page 1 story should have named the bank that set up a trust to buy and securitize mortgages from fellow Chicago Home Loan Bank members. Though "unidentified," as the story said, when the plan was first approved, it was...

Commerce Quizzed on Political Contributions.(National Association of Securities Dealers Inc. looks into Commerce Bancorporation Inc.'s contributions to political candidates)
September 3, 2004... Yet another regulator is scrutinizing Commerce Bancorp Inc. A letter from the National Association of Securities Dealers Inc.'s Philadelphia office said the NASD was looking into whether the Cherry Hill, N.J., company's contributions to...

In Brief: Merrill to Buy an Energy Trader.(Merrill Lynch and Co. to purchase Entergy-Koch LP)(Brief Article)
September 3, 2004... Merrill Lynch & Co., which downsized its energy trading operations three years ago, is now ramping up the business. On Thursday the New York company said it had agreed to buy the energy trading business of Entergy-Koch LP, a Houston joint...

Just Clause? Arbitration In Subprime.(mortgage lending)
September 7, 2004... Mandatory arbitration clauses are one of the most contentious issues in the debate over subprime mortgage lending, and Fannie Mae and Freddie Mac are caught in the middle. Under pressure from consumer activists, the two...

Room to Grow In the Valleys Of California.(Tri Counties Bank)
September 7, 2004... More and more people are fleeing the expensive California coastal cities for the state's more affordable central valleys, and Tri Counties Bank in Chico is opening branches in hopes of winning their business. The $1.5 billion-asset bank...

Check 21 Not A Sprint But A Marathon.(Check Clearing for the 21st Century Act and bank technologies)(Industry Overview)
September 7, 2004... The Oct. 28 implementation date of the Check Clearing for the 21st Century Act is often portrayed as the banking industry's equivalent of a start gun at the Olympics, the opening salvo in a race to use check images, the day on which every bank...

Trading Dips, And for Some Revenue Will.(Industry Overview)
September 7, 2004... Lackluster capital markets and low trading volume this summer are expected to mean lower revenue at commercial banks with sizeable market-related activities, such as Citigroup Inc. and J.P. Morgan Chase & Co., and among processing banks. A...

Small-Bank Guy and the Big Picture at RMA.
September 7, 2004... Richard Harbaugh, the group's new chairman and the CEO of a $150 million-asset Nebraska mutual, says, "I certainly don't have any problem going in and talking with the big banks." Story on page 4 Copyright 2004 Thomson Media Inc. All...