Banking Wire articles from January 2003

Banking Wire archives from January 2003

3Q Figures Show Lending Continues To Be Strong.
January 2, 2003... Preliminary analysis of third quarter data indicates credit union loan growth for 2002 is poised to outpace last year's growth rate, according to Callahan & Associates. Callahan's said the early figures place loan growth at 6.3% year-to-date...

CU Business Group Signs On Four More Credit Unions.
January 2, 2003... CU Business Group, LLC, a corporate-owned CUSO that offers business services, said it has signed four new credit union members: Fibre FCU, U Lane O CU, Point West CU, and White River CU. "Signing these four credit unions clearly...

More Than 1,100 Expected In NJ; Patty Duke To Keynote.
January 2, 2003... The Credit Union Affiliates of New Jersey are expecting to host more than 1,100 people when the CUANJ holds its annual conference here. Keynoting the event will be actress Anna "Patty" Duke. The meeting will have a Hawaiian theme, to be...

Learning The 'A,B&E's' Of Membership; Little Differences Can Mean Big Results.
January 2, 2003... "Eighty nine percent of members with a checking account write checks. What in the world do the other 11% do? " -Robert Lawhead The difference between an "A" and an "E" is a lot more than just five letters in the alphabet. It is often the...

Corporate CUs Say A Variety Of Benefits Are Just Waiting For Credit Union Takers.
January 2, 2003... Credit unions don't always tap all the resources that are available to them, particularly when it comes to working with their corporate CUs. Just as some DP vendors are surprised to see elements of their processing systems not being used...

Bankruptcy Bill Dies Again In Congress; Trades Mull Strategy.
January 2, 2003... The ill-fated bankruptcy reform bill was finally declared dead last week after several months on life support. For the third straight Congress the credit union-backed measure came a hair's-width from final passage, but withered away when...

Consumers See Less Cheer For Holidays.
January 2, 2003... Concerns about job security and high household debt may be forcing people to cutback on their holiday spending this year. The third annual holiday spending survey conducted by CUNA and the Consumer Federation of America shows that a...

ON DEADLINE.
January 2, 2003... NCUA Board Again OK's Changes To FOM Rules ALEXANDRIA, Va.-The NCUA board last week proposed another broad expansion of field of membership rules that would, among other things, allow single-sponsor federal credit unions to serve entire...

Rep #1: Bill Thompson, Addison Avenue FCU, Roseville, CA: Beyond Risk Tolerance: Using The Psychological Approach.
January 2, 2003... Last April, Bill Thompson and his wife indulged themselves by taking the Paul Gauguin cruise ship, making stops in Tahiti, Bora Bora and other exotic locals. Thompson, a travel buff, knew he had to take the cruise then or delay it for a while,...

Rep #2: Thomas J. Gletner Jr., SunTrust Bank, Washington, DC: Success of Unassuming Rep Linked to Hard Work, Humility.
January 2, 2003... Last April, Bill Thompson and his wife indulged themselves by taking the Paul Gauguin cruise ship, making stops in Tahiti, Bora Bora and other exotic locals. Thompson, a travel buff, knew it was take the cruise then or not for a long while,...

Wearing Jackets ID'ing Them As FBI Agents, Robbers Storm Indiana CU.
January 3, 2003... It was still unclear late last week whether two men captured by Goshen, Ind. police last Wednesday were connected to an armed robbery of a credit union in nearby Middlebury. What was clear was that the robbers disguised themselves in a way...

The Carolinas CU Foundation Pledges $500,000 To Charity.
January 3, 2003... The Carolinas Credit Union Foundation plans to announce today a $500,000 commitment to the Victory Junction Gang Camp, a North Carolina retreat for seriously ill children and their families. At a press conference last week, race car...

Dollar Urges CUs To Offer VITA Sites Inside Branches.
January 3, 2003... NCUA Board Chairman Dennis Dollar has sent a letter to federal credit unions asking that they set up areas to help members with tax preparation. "Credit unions are encouraged to review their business plans and determine whether the...

Treasury Puts Moratorium On PATRIOT Terrorist Rules.
January 3, 2003... CUNA said last week it met with Treasury officials who have declared a moratorium on rules governing how financial institutions must search for suspected terrorists or money launderers. The moratorium applies to the final rule enforcing...

Ensure Your Brand Is Actually Reaching Members.
January 3, 2003... As the VP-marketing, you worked with a top-notch marketing firm to laboriously craft your new credit union logo and brand. You invested extra time and money into designing a promotional campaign introducing the new look and feel of the...

It's Important For Every CU To Review The Control List.
January 3, 2003... With the release of proposed customer identification program (CIP) regulations, credit unions and other financial institutions may be required to review various government lists prior to account opening. One such list is referred to as the...

A Different Twist On Credit Scores & Making Loans.
January 3, 2003... The best cross sale is one that actually improves a member's financial life at the same time that it generates income for the credit union-and that's the idea behind the "score enhancement loan." Rex Johnson, CEO of Lending Solutions,...

The Real Bankruptcy Issue-Lending Opportunities!
January 3, 2003... While the credit union lobby is frantically trying to get the bankruptcy reform bill passed, one lending expert suggested bankrupt members could be a CU's best lending opportunity. Sound counterintuitive? Rex Johnson, CEO at Lending...

Rep #3: Samuel H. Oakley, SunTrust Bank, Nashville, TN: Rep's Credo Is: Superb Service, Keen People Skills, Hard Work.
January 3, 2003... Last April, Bill Thompson and his wife indulged themselves by taking the Paul Gauguin cruise ship, making stops in Tahiti, Bora Bora and other exotic locals. Thompson, a travel buff, knew it was take the cruise then or not for a long while,...

Rep #4: Phil Nguyen, Addison Avenue FCU, Cupertino, CA: Perseverance, Skill, Sincerity Give Rep a Winning Edge.
January 3, 2003... Clients come to Phil Nguyen for expertise. The 33-year- old financial consultant devotes much of his free time to studying the markets, reading analysts' reports and staying current on tax and retirement regulations. "Phil speaks to his clients...

Administrator of Group Attacking Credit Union Is Also A Happy CU Member.
January 6, 2003... The administrator of the bank-funded Resolution Alliance for Strong Banks and Credit Unions may have spent three months working for the Utah Bankers' Association, but she is also a credit union member. And not just any credit union:...

A Good Fight With Banks 'Relished'.
January 6, 2003... Credit unions in Utah that are under attack from the state's banks are being offered encouragement-and a pledge to help fight back-from Washington. "If a grassroots coalition hopes to be effective, it must be based around a credible...

Utah CUs See Something Less Than 'Honest' In Group's Claims.
January 6, 2003... A group billing itself as "an honest broker" in the ongoing enmity between banks and credit unions in this state insists it isn't a mouthpiece for the bankers-even though it's completely funded by banks and is backing negative radio ads...

A Credit Union Sign For The Ages.
January 6, 2003... For once, something in credit union land really is set in stone. Alternatives FCU has topped off its new environmentally-correct headquarters with a piece of the natural environment: its new sign is a giant boulder with the CU's name...

NCUA Continues To Stretch Definition Of The Common Bond.
January 6, 2003... It was only a matter of time before NCUA came up with a new concept of common bond that encompasses workers in an entire trade, industry or profession, as the federal regulator is proposing for its next round of field of membership (FOM) rules....

CUs Delete Steps In Online Mortgages.
January 6, 2003... Applying for and closing on a mortgage is easily one of the most important-and dreaded-financial transactions a person will make. That's what drove two credit unions to make the whole process a lot less overwhelming by establishing a quick...

CU Profitability On The Rise During 3Q; Loans Still Strong.
January 6, 2003... Credit unions bucked the economic downturn in the third quarter of the year by continuing to lower their cost of funds to help raise profitability to its highest level in several years. Return-on-average assets (ROA) for credit unions...

ON DEADLINE.
January 6, 2003... Year-Long TV Campaign ATLANTIC CITY, N.J.- Credit Union Affiliates of New Jersey is launching a year-long television campaign aimed at boosting public awareness of credit unions. The campaign, anounced during CUANJ's annual meeting here,...

Rep #5: Diane Cook, SunTrust Bank, Atlanta, GA: This Rep's Special Something Keep Clients Coming Back.
January 6, 2003... It's down times like these that separate the competent from the superb. "People throw money at you when you're at your all-time highs," explains Atlanta-based SunTrust Securities first vp Diane Cook, who has worked for 33 years in banking, 16...

Rep #6: John J. K. Taitague, SunTrust Bank, Richmond, VA: Series of 'Lucky Turns' Lands Rep in Best Job of His Career.
January 6, 2003... If John J.K. Taitague's life had played out the way he thought it would, he'd still be burning out with16-hour workdays as a wirehouse broker, playing soccer professionally in the summer, and living the bachelor's life in Richmond, VA. But, as...

How Low Can They Go?: Credit Unions Are Offering Some of The Lowest Lending Rates Seen In Years-Especially On Automobiles.
January 7, 2003... The depressed rate environment has credit unions dangling some of the lowest loan rates seen in years, especially on automobiles. Driving the attractive rates are competition from dealers touting APRs that begin with zero-although they're...

Privacy, Please: A New Privacy Bill Is Back Before The California Legislature; Local Municipalities Are Also Passing Ordinances.
January 7, 2003... Just three months after a statewide financial privacy bill failed, the bill's sponsor is back with a new piece of similar legislation. At the same time, a number of California cities and counties are passing their own local restrictions....

After Meeting, CU Says Alliance Just A 'Sham'.
January 7, 2003... Utah Community FCU went into a meeting with the bank-backed Resolution Alliance for Strong Banks and Credit Unions with an open mind about the group that touts itself as a neutral "honest broker," but it came out convinced that the group is...

Anti-Predatory Laws Creating Challenges.
January 7, 2003... Credit unions and their state and national trade groups have been outspoken critics of "predatory lending" practices. But they are also finding many of the laws being proposed to combat the problem are creating more problems than...

ON DEADLINE.
January 7, 2003... United Airlines' CU Is Stressing Independence CHICAGO-As United Airlines is threatening to file for bankruptcy, United Airlines Employees CU is sending two strong messages to its membership: the CU is independent of the beleaguered...

FICUs Officially Under 10,000; Loan Growth Continues.
January 7, 2003... It's official. For the first time since the 1950s, the number of federally insured credit unions has dropped below 10,000 (CU Journal, Nov. 11). The number of credit unions themselves actually remains above 10,000, due to the number of...

CUs Can Now Bid On Post Office Biz.
January 7, 2003... For the first time, credit unions are being invited to bid on providing depository services to U.S. Post Offices across the country. To date, however, none has won their respective bids. "The Postal Service always just used local banks for...

Rep #7: Jeff Fehrman, SunTrust Bank, Atlanta, GA: Superior Client Management Keeps Rep at Top of His Game.
January 7, 2003... Straight out of the University of Georgia in the early 1990s, Jeff Fehrman moved to sprawling Atlanta, where he worked for several firms and picked up experience in the front and back offices of the investment business. At The Equitable,...

Rep #8: Tom Abood, Huntington National Bank, Columbus, OH: Self-Styled 'Train Conductor' Keeps Investors on Board.
January 7, 2003... Everyone has heard of the little old lady who made a killing in the stock market by buying a few shares on the cheap and forgetting about them for decades. Tom Abood knows her name. As he talks about the wisdom of staying invested-even in a...

Rep #9: Charles J. Lewis, Jr., Wells Fargo, Waco, TX: Quiet, Steely Determination Helps Townie Make Good.
January 7, 2003... For all the rustic evocations of Wells Fargo's stage coach, most of its high-net-worth business is done in big urban centers these days. But from Waco, TX, comes Charles Lewis with big assets and big production, but a quiet manner and a calm...

Worth Noting.
January 8, 2003... Ohio Merger Is Canceled KENT, Ohio-A merger that had been planned between Kent Credit Union here and Buckeye State CU, Akron, has been called off. According to the Ohio league, board governance issues that could not be resolved are being...

Think Utah Is Just Another State? Think Again.
January 8, 2003... What did Tennessee? Same thing Utah. That old children's joke comes to mind because of something that actually isn't very funny-the extraordinary events going on in one state and which CUs could regret not paying more attention to. The...

City Piloting HELC Program With CU.
January 8, 2003... The city of Kettering, Ohio is piloting a program with Day Air Credit Union to help city residents obtain loans improve their homes. Under the new program, called HELP (Home Enhancement Loan Program), homeowners who qualify can receive a...

A First-Hand Look Behind Axis Of Evil-Life In Iraq.
January 8, 2003... Editor's Note: Max Ortiz, husband of Credit Union Journal correspondent Lauralee Ortiz, is a photographer for the Detroit News, and recently returned from a special assignment in Iraq. Mr. Ortiz shared the following observations and...

6 Months Later, CUs Happy With Joint Branch.
January 8, 2003... Six months after opening a jointly-operated branch here, the two credit unions behind the facility say they are both happy with the results. The $700-million Arrowhead Credit Union, which serves 127,000 members, and the $180-million...

Portfolio Sale In The Cards? What CUs Should Consider...
January 8, 2003... As more credit unions consider selling off their card portfolios, one expert in portfolio analysis discussed compelling reasons to keep or sell such a portfolio-and the keys to making the decision to keep or sell successful. "There are...

Rep #10: Nick Diranian, FleetBoston, Auburn, MA: A Hard Worker's Watchwords Are 'Efficiency,' 'Effectiveness'.
January 8, 2003... Basketball legend Michael Jordan once said "Some people want it to happen. Some people wish it to happen. Some people make it happen." Nick Diranian, senior financial consultant at FleetBoston's Quick & Reilly brokerage unit, turns to the words...

Rep #11: John Holmes, Fulton Bank, Lancaster, PA: Lancaster County Proves Fertile for This Active Rep.
January 8, 2003... Mellon Financial left retail banking two years ago, so John Holmes left Mellon.Today he is with Fulton Financial Advisors, the wealth- management business of Fulton Bank based in Lancaster, PA. And he is flourishing: he has about half as many...

Rep #12: Matthew Otto, SunTrust Bank, Sarasota, FL: A Focus on Not Selling Turns This Rep Into a Top Producer.
January 8, 2003... Abig hitter, Matthew Otto has increased his revenue by about 35% every year since 1998. But the SunTrust Securities rep has an unusual approach. "I never try to sell," he says. Instead he spends time profiling the client. "Almost always,...

Rep #13: John E. Bishop, SunTrust Bank, Rome, GA: An Emphasis on Trust Puts This Rep on the Map.
January 8, 2003... Few ballads celebrate the man who stayed home. From Odysseus to Luke Skywalker, from Columbus to the first exec in Papua New Guinea, trailblazers are expected to conquer-or at least discover-new lands. But in living all his life in his hometown...

CU That Sold Cards Itself Now Wishes It Had Used A Broker.
January 9, 2003... When credit card portfolio analyst William Koo suggested credit unions shouldn't try to sell their portfolios on their own, there was one person in the audience who couldn't agree more: Arrowhead CU Director Robert McDonald, whose credit...

Analyst Says Many CUs Sell Portfolios Based On Faulty Analysis.
January 9, 2003... At the same time credit unions gathered in Florida were being urged to think carefully about selling card portfolios, Robert Lawhead, president of Raddon Financial Group, was telling CUs in Las Vegas much the same. Lawshead said he isn't...

...And How To Avoid Pitfalls If Plan Is To Proceed With Selling Portfolio.
January 9, 2003... There are benefits to be had for some credit unions in selling off their card portfolio-but only if the credit union avoids certain pitfalls. AssetExchange CEO William Koo told credit unions at the National Association of Community Credit...

One Small CU's Approach To New Services? 'Why Not?'.
January 9, 2003... Lynn Marie Hopfensperger was very excited. She said she just had a "wonderful" conversation with the president a small CU about forming a CUSO to help small CUs with first mortgages. "Why not?" she said. After all, her own CU- Wisconsin's...

Fledgling Start-Up In 'Depressed' Area Forging Ahead.
January 9, 2003... Just over a year since opening its doors to serve some of the poorest communities in the area, National Community Development FCU is in a bind-but nothing that money can't fix. Shortly after NCDFCU received its charter, the NCUA enacted its...

Rep #14: Harvey Dash, FleetBoston, Morrisville, PA: Aiding Licensed Bankers Helps this Rep Win Big, Too.
January 9, 2003... A positive attitude helped Harvey Dash thrive amid changes at Fleet this year. He says a program to license bankers in Fleet branches-an initiative that began in January-caused some grumbling among reps. "A lot of the reps see it as a...

Rep #15: Donald Marano, Wachovia Bank, Allentown, PA: A Rep Cuts Client Numbers, But Deepens Relationships.
January 9, 2003... In the early 1990s, when Marano was working at a financial planning consulting firm, he saw that the investment programs banks were developing would be lucrative for financial advisers. "Why go through the white pages and buy lists, when...

Rep #16: Sean M. Flynn, Salem Five Cents Savings, Salem, MA: For His Next Trick, Flynn Will Lead 1,000 Bank Reps.
January 9, 2003... As if a place on BIM's Top 50 were not august company enough, Sean M. Flynn is one of just three individuals to make the ranking for the three consecutive years: He finished at No. 37 in 2000 and at No. 36 in 2001. Moreover, the move he made to...

Rep #17: Bill Heiser, Addison Avenue FCU, Santa Rosa, CA: This Veteran Says He Spent His Career Working Down.
January 9, 2003... Doing well by doing good is something all reps should aspire to, but in the case of Bill Heiser, he did not have much of a choice. Heiser had the somber duty of advising on a lot of 401(k) rollovers as waves of layoffs rippled through...

Rep #18: Jason Payne, Central Carolina Bank, Greenville, SC: Time in the Trenches Serves This Rep Well.
January 9, 2003... After graduating from East Carolina University in 1999, Jason Payne worked as an equities trader at DLJ Direct in Charlotte, NC. He then moved to Central Carolina Bank in 2000, working as a junior broker under Steve Agner for six months, before...

Product & Service.
January 10, 2003... Centrix Wins First Time Out ENGLEWOOD, Colo.-After deciding to enter into a motor sports sponsorship as a way to raise its profile, Centrix Financial, LLC, a provider of special finance auto lending, had one of its cars finish first in the...

Rates On Savings, Loans Continue To Hit New Lows.
January 10, 2003... Credit unions continue to slash their saving rates to the lowest in memory with average rates paid on regular shares, checking and money market accounts continuing their year-long free-fall over the past few weeks. Even still, savings...

People.
January 10, 2003... MidWest Financial Credit Union, Ann Arbor, Mich., promoted Lori verbrugge to chief operations officer. CUES, Madison, Wis., promoted Jim Nicodemus to art director, and Mindy Ripp to conferences and meetings manager. Kathy Wright was named...

Journal Daily.
January 10, 2003... Fed Gets Private Insurance Primer ARLINGTON, Va.-NAFCU was scheduled to have its annual meeting with the Federal Reserve Board of Governors last Friday, and planned to present a special report on private deposit insurance. The trade...

Community Page.
January 10, 2003... U.S. Reps Show Support For CUs FARMINGDALE, N.Y.-U.S. Representatives Steve Israel and Carolyn McCarthy expressed their support of credit unions at a dinner held at the New York State CU League's Long Island Chapter meeting. Credit...

Rep #19: Tracy Lee, Citibank, Milpitas, CA: For This Prospering Rep, Relating to Immigrants Helps.
January 10, 2003... Six-day weeks, fluency in Japanese and Mandarin, and an understanding of her clients' dual thirst for preserving their nest eggs and funding first-rate college educations are some of Tracy Lee's secrets to surviving-make that thriving-in...

Rep #20: David Bowman, SunTrust Bank, Roanoke, VA: A Rep Aims to Capture More Of Clients' Funds for SunTrust.
January 10, 2003... There are lots of platitudes about working smarter, not harder, but David Bowman seems to have figured it out. He decreased his number of clients by about 30% and in doing so increased both his production and his assets under management by...

Rep #21: SunTrust Bank, Nashville, TN: Louis C. Glaser: In Music City, Glaser Avoids Singing the Blues.
January 10, 2003... Returning to the rankings, Louis C. Glaser says times have been tough in the country music business, but a booming Christian music scene has created a new crop of affluent musicians and executives. Glaser focuses his business specifically...

Rep #22: Mary Jane Jennings, PNC Bank, Louisville, KY: Old-Fashioned Relationships Keep This Rep in the Black.
January 10, 2003... In the bear market of the past year, Mary Jane "Janey" Jennings increased her production by 35%-an impressive gain for any bank rep. But Jennings, a senior financial consultant at PNC Investments, also managed this feat in one branch with a...

Rep #23: Valerie Mitchell, NY Community Bank, Woodhaven, NY: Strong Faith Helps Neighbors Keep Body, Soul Together.
January 10, 2003... On a windy, overcast late-October day, Valerie Mitchell walks from her office at the back of the branch to keep a 10:30 a.m. appointment. As the J line subway rattles overhead, an elderly woman bundled against the chill enters with a sheaf of...

Rep #24: Curtis Shambaugh, Bank of Lancaster County, Lancaster, PA: Flourishing Series 6 Rep Is Ambivalent About a Series 7.
January 13, 2003... In the encyclopedia of common expressions, next to the entry for "home-town favorite," is a picture of Curtis Shambaugh. He is the first Series 6 rep to make the Top 50, and he did so with authority: with a trifecta of highest growth in...

Rep #25: S. Andrew Sullivan, SunTrust Bank, Atlanta, GA: Determination Sustains A Heavy Hitter In Off Year.
January 13, 2003... It's been eight years since S. Andrew Sullivan has seen it this bad. And back in 1994, the first time in his 15-year career that his year-on-year production dropped, the markets anyway rallied the following year, so "it was OK," recalls the...

Rep #26: Laura Sodano, Community Bank, Howard Beach, NY: An Empathetic Connection Helps Sodano Retain Clients.
January 13, 2003... An elderly man comes to Laura Sodano upon realizing he has unknowingly incurred a tax expense after selling an annuity. She helps the customer, resolving a transaction that didn't even originate at her bank o wonder then, why customers line up...

Rep #27: Nadia Cavner, U.S. Bancorp, Springfield, MO: Rep May Cast Her Net Wide, But Holds Her Clients Close.
January 13, 2003... Keeping investors calm this year has been a trial for all advisers, but Nadia Cavner has the added burden of tending to a nervous covey of 4,000 clients flung over a wide swatch of southwest Missouri. Just getting to everyone is a challenge, on...

Rep #28: Patrick Faulkner, SunTrust Bank, Norfolk, VA: A Rep Who Prefers Being A Lazer Beam to a Flashlight.
January 13, 2003... In a tough market, SunTrust Securities' Patrick A. Faulkner attributes his success to a strong marriage and family life as well as motivational materials and personal growth classes, which have provided insight into clients' psyches. A...

What They're Fighting About.
January 13, 2003... The tensions in Utah between banks and credit unions go back to the early 1980s, when the state regulator permitted state-chartered CUs to add more than one county to their fields of membership. In effect, it allowed CUs to create a de...

Despite ALM Issues, Some Cutting APRs To The Bone.
January 13, 2003... A number of credit unions nationally are being quite aggressive in their loan pricing-in some cases pushing auto loan APRs beneath 3%-saying they're still able to generate profitable margins thanks to technology, tight monitoring of expenses...

LA-Area CUs, Each At $400M Plus, Say Merger Only Option.
January 13, 2003... Two credit unions in greater Los Angeles, each at more than $400- million in assets, said they are merging because it's the only way they can remain competitive in this market. The $464-million Western Federal Credit Union and the...

Mouth Bytes: How One Small Credit Union Overcame A Limited Budget To Promote The Availability Of Online Services.
January 13, 2003... Word-of-mouth-it's the "better bet" for small credit unions struggling to switch members over to electronic services, according to one $24-million credit union. "The benefit of being small is the one-to-one information flow," said Brian...

ON DEADLINE.
January 13, 2003... Check Kiting Scheme Could Cost CU $192K LAKELAND, Fla.-Publix Employees FCU may have lost as much as $192,000 and other insitutions lost lesser amounts in a scheme which a used-car dealer allegedly kited hundreds of checks worth hundreds of...

Rep #29: Al Yancoskie, Fulton Bank, Hummelstown, PA: Self-Avowed People Pleaser Finds He's in the Right Career.
January 14, 2003... Al Yancoskie is a people person. Growing up in a family that included 71 first cousins, he learned at an early age how to interact with different types of personalities. It's no wonder he has been so successful at selling annuities and mutual...

Rep #30: Steve Hardwick, AmSouth Bank, Nashville, TN: This Rep's Daily Motto Is: Get Ready, Be Steady, Go!
January 14, 2003... Steady performance is what AmSouth's Steve Hardwick strives for in asset management, in client services, on the golf course, and on the ski slopes. "Steady" is what he's all about: He placed No. 29 in BIM's 2000 ranking. That is not to say...

Do Mortgage-Backed Securities Still Offer Safe Haven for the Wary?: Is there still an upside for mortgage-backed securities? They can still offer a safe haven for stock-shy investors, but beware of short- term risks.
January 14, 2003... Bond funds that invest in mortgage-backed securities have been a popular alternative to the volatile stock market this year. Attracted to their relative safety, as well as their yield over Treasurys, investors poured more than $12 billion into...

In Tough Times Like These, Shouldn't Banks Cut Their Account Minimums?: Wealth management departments are competing fiercely for clients but they aren't about to lower their standards. And, hey, they might even raise them a little. What does that mean for advisers?
January 14, 2003... Catering to the wealthy in a time of declining asset values has its challenges. Chief among them is that many clients who were wealthy during the 1990s boom years are no longer so. As the competition for business intensifies, banks' wealth...