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DEC 3 0 1991 ROBERT L. HOECKER Clerk
Appellate Case: 90-1243 Document: 01019337108 Date Filed: 12/30/1991 Page: 1 FIL~D United States Co~ ~f Ap:;>eals Tenth C1rcmt PUBLISH DEC 3 0 1991 UNITED STATES COURT OF APPEALS ROBERT L. HOECKER FOR THE TENTH CIRCUIT Clerk IN RE: KAISER STEEL CORPORATION, ) ) Debtor. ) ) ) --------------- ) KAISER STEEL CORPORATION; KAISER STEEL RESOURCES, ) INC., formerly known as Kaiser Steel Corporation, ) ) Plaintiffs-Appellants, ) Case No. ) 90-1243 v. ) ) PEARL BREWING COMPANY; FALSTAFF BREWING COMPANY; ) OPPENHEIMER & CO. INC.; JOSEPHTHAL & CO., Josephthal ) & Co. Incorporated; THE HILLMAN CO., INDIVIDUALLY AND ) AS TRUSTEE FOR THE N.M.U. PENSION TRUST; HERZFELD & ) STERN; HERZFELD & STERN INC., now known as JII ) Securities, Inc.; GOLDMAN SACHS & CO.; A.G. BECKER ) PARIBES INC., now known as Merrill Lynch Money Market, ) Inc.; A.G. EDWARDS & SONS, INC.; ALPINE ASSOCIATES; ) ASIEL & CO.; BANKERS TRUST COMPANY; BARCLAY'S BANK ) INTERNATIONAL LIMITED; BEAR STEARNS & CO., ) individually and as custodian for the IRA ACCOUNT OF ) ROBERT W. SABES; BRADFORD TRUST CO.; COWEN & CO.; ) CROCKER NATIONAL BANK; DAIN BOSWORTH, INC.; DILLON ) READ & CO., INC., individually and as General Partner ) of B/DR ARBITRAGE FUND LIMITED PARTNERSHIP; DOFT & ) CO., INC.; DREXEL BURNHAM LAMBERT, INC.; EASTON & CO.; ) EDWARD A. VINER & CO., INC., now known as Fahnestock & ) Co.; EDWARD D. JONES & CO.; ENGLER & BUDD COMPANY; ) EPPLER, GUERIN & TURNER, INC.; ERNST & COMPANY; EVANS ) & CO., INC.; FIFTH THIRD BANK; FIRST KENTUCKY TRUST ) COMPANY; HERZOG, HEINE, GEDULD, INC.; -
Will Digital Payment Systems Replace Paper Currency? by Hannah H. Kim July 19, 2019 – Volume 29, Issue 26 Intr
7/19/2019 The Future of Cash: CQR Will digital payment systems replace paper currency? By Hannah H. Kim July 19, 2019 – Volume 29, Issue 26 Sections Introduction While cash continues to circulate widely in the United States, many consumers, as well as many business experts, believe paper money will soon become antiquated. Advocates of a cashless society point to countries such as Sweden and to some Chinese cities where mobile payment applications are supplanting paper currency. In the United States, digital payment systems are helping to change consumer habits, and some businesses have stopped accepting cash. Advocates of a cashless society argue that credit and debit cards and digital payment methods are efficient and transparent and inhibit financial crimes. Because cash is anonymous and largely untraceable, it can facilitate illicit activities such as tax evasion and money laundering. Critics of the cashless trend raise concerns regarding privacy, security and equality. They argue that cash lacks the fees associated with cards or electronic money transfers and that cashless businesses discriminate against people who must, or choose to, rely on cash. In the face of this criticism, some businesses that went cashless are reversing course. Street musician Peter Buffery, with his custom guitar that allows him to accept cashless donations, performs in London's Soho Square. (Getty Images/PA Images/Lewis Whyld) https://library.cqpress.com/cqresearcher/document.php?id=cqresrre2019071900 1/49 7/19/2019 The Future of Cash: CQR Overview Jamie BirdwellBranson does not remember a time when she regularly used cash to buy things. “I've always just used my debit card,” says the 30yearold freelance writer and editor who lives in Toledo, Ohio. -
Annual Report for the As a Result of the National Financial Environment, Throughout 2009, US Congress Calendar Year 2009, Pursuant to Section 43 of the Banking Law
O R K Y S T W A E T E N 2009 B T A ANNUAL N N E K M REPORT I N T G R D E P A WWW.BANKING.STATE.NY.US 1-877-BANK NYS One State Street Plaza New York, NY 10004 (212) 709-3500 80 South Swan Street Albany, NY 12210 (518) 473-6160 333 East Washington Street Syracuse, NY 13202 (315) 428-4049 September 15, 2010 To the Honorable David A. Paterson and Members of the Legislature: I hereby submit the New York State Banking Department Annual Report for the As a result of the national financial environment, throughout 2009, US Congress calendar year 2009, pursuant to Section 43 of the Banking Law. debated financial regulatory reform legislation. While the regulatory debate developed on the national stage, the Banking Department forged ahead with In 2009, the New York State Banking Department regulated more than 2,700 developing and implementing new state legislation and regulations to address financial entities providing services in New York State, including both depository the immediate crisis and avoid a similar crisis in the future. and non-depository institutions. The total assets of the depository institutions supervised exceeded $2.2 trillion. State Regulation: During 2009, what began as a subprime mortgage crisis led to a global downturn As one of the first states to identify the mortgage crisis, New York was fast in economic activity, leading to decreased employment, decreased borrowing to act on developing solutions. Building on efforts from 2008, in December and spending, and a general contraction in the financial industry as a whole. -
10The Financial Crisis and the New York Federal Reserve District YEARS AFTER
10YEARS AFTER The Financial Crisis and the New York Federal Reserve District 10 YEARS AFTER: THE FINANCIAL CRISIS AND THE NEW YORK FEDERAL RESERVE DISTRICT 1 ACKNOWLEDGMENTS This report was researched and written by Maggie Corser. Shawn Sebastian provided supplemental writing and editing. It was edited by Emily Gordon and Jordan Haedtler, Center for Popular Democracy. The report benefitted from and cites data analysis by the Economic Policy Institute of the Current Population Survey, and the Urban Institute of the Survey of Consumer Finances. ABOUT THE CONTRIBUTORS The Center for Popular Democracy (CPD) works to create equity, opportunity and a dynamic democracy in partnership with high-impact base-building organizations, organizing alliances, and progressive unions. CPD strengthens our collective capacity to envision and win an innovative pro-worker, pro-immigrant, racial and economic justice agenda. www.populardemocracy.org Fed Up is a coalition of community organizations and labor unions across the country, calling on the Federal Reserve to reform its governance and adopt policies that build a strong economy for the American public. The Fed can keep interest rates low, give the economy a fair chance to recover, and prioritize genuine full employment and rising wages. www.ThePeoplesFed.org 2 10 YEARS AFTER: THE FINANCIAL CRISIS AND THE NEW YORK FEDERAL RESERVE DISTRICT 10 Years After: the Financial Crisis and the New York Federal Reserve District EXECUTIVE SUMMARY This report marks the 10-year anniversary of the global financial crisis that threatened the stability of the financial system and resulted in severe and protracted economic hardship for communities across the United States. -
Manhattan Year BA-NY H&R Original Purchaser Sold Address(Es)
Manhattan Year BA-NY H&R Original Purchaser Sold Address(es) Location Remains UN Plaza Hotel (Park Hyatt) 1981 1 UN Plaza Manhattan N Reader's Digest 1981 28 West 23rd Street Manhattan Y NYC Dept of General Services 1981 NYC West Manhattan * Summit Hotel 1981 51 & LEX Manhattan N Schieffelin and Company 1981 2 Park Avenue Manhattan Y Ernst and Company 1981 1 Battery Park Plaza Manhattan Y Reeves Brothers, Inc. 1981 104 W 40th Street Manhattan Y Alpine Hotel 1981 NYC West Manhattan * Care 1982 660 1st Ave. Manhattan Y Brooks Brothers 1982 1120 Ave of Amer. Manhattan Y Care 1982 660 1st Ave. Manhattan Y Sanwa Bank 1982 220 Park Avenue Manhattan Y City Miday Club 1982 140 Broadway Manhattan Y Royal Business Machines 1982 Manhattan Manhattan * Billboard Publications 1982 1515 Broadway Manhattan Y U.N. Development Program 1982 1 United Nations Plaza Manhattan N Population Council 1982 1 Dag Hammarskjold Plaza Manhattan Y Park Lane Hotel 1983 36 Central Park South Manhattan Y U.S. Trust Company 1983 770 Broadway Manhattan Y Ford Foundation 1983 320 43rd Street Manhattan Y The Shoreham 1983 33 W 52nd Street Manhattan Y MacMillen & Co 1983 Manhattan Manhattan * Solomon R Gugenheim 1983 1071 5th Avenue Manhattan * Museum American Bell (ATTIS) 1983 1 Penn Plaza, 2nd Floor Manhattan Y NYC Office of Prosecution 1983 80 Center Street, 6th Floor Manhattan Y Mc Hugh, Leonard & O'Connor 1983 Manhattan Manhattan * Keene Corporation 1983 757 3rd Avenue Manhattan Y Melhado, Flynn & Assocs. 1983 530 5th Avenue Manhattan Y Argentine Consulate 1983 12 W 56th Street Manhattan Y Carol Management 1983 122 E42nd St Manhattan Y Chemical Bank 1983 277 Park Avenue, 2nd Floor Manhattan Y Merrill Lynch 1983 55 Water Street, Floors 36 & 37 Manhattan Y WNET Channel 13 1983 356 W 58th Street Manhattan Y Hotel President (Best Western) 1983 234 W 48th Street Manhattan Y First Boston Corp 1983 5 World Trade Center Manhattan Y Ruffa & Hanover, P.C. -
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Cumulative Supplement No. 8 S e p te m b e r 30, 1963 Historical Directory of the BANKS of the STATE of NEW YORK Compiled by W illiam H. Dillistin FEDERAL RESERVE BANK OF NEW YORK 19 6 3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis HISTORICAL DIRECTORY OF THE BANKS OF THE STATE OF NEW YORK By arrangement with William H. Dillistin and the New York State Bankers Association, there is presented herewith Cumulative Supple ment No. 8 to the Historical Directory of the Banks of the State of New York, which was compiled by Mr. Dillistin and published by the Association in October, 1946. This supplement covers the period from October 1, 1946 to Septem ber 30, 1963, and sets forth a brief statement of each addition or change affecting the material in the directory, which has come to our notice since the directory was published. Following the plan of the directory, the new material is presented first with respect to banks in the City of New York (Part I), and then with respect to banks in other cities and towns (Part II), arranged in alphabetical order by location. There is also included in this supplement a list of additions to Part III of the directory, which is an alphabetical index of all bank names regardless of location. The superior letters preceding bank names in Parts I and II have the same meanings as in the original directory, as follow s: ABank in active operation. -
Arcano Economic Research ARCANO October 2018 Çgtítulo Principal (Sin Numerar) the Fintech Revolution a Chart Is Worth a Thousand Words
Arcano Economic Research ARCANO October 2018 çgTítulo principal (sin numerar) The Fintech Revolution A Chart Is Worth a Thousand Words 700 250 2015 600 200 500 150 400 300 100 200 1812 50 100 0 0 Research 1812 1860 1910 1960 2000 2015 2018 Citigroup valuation ($Bn, RHS) Citigroup clients (M, LHS) Economic Ant Financial valuation ($Bn, RHS) Ant Financial clients (M, LHS) Arcano Arcano Ant is the world’s largest mobile and online payment platform, currently the world’s most valuable Fintech company. It was renamed Ant Financial in 2014. Singularity University is a globally renowned academic institution devoted to innovation and education based on the potential development of technologies to solve humanity’s challenges and build a better future. Source: Citigroup, Google and Singular University Report summary video Ignacio de la Torre, Ph. D. [email protected] +34 91 353 21 40 Leopoldo Torralba [email protected] +34 91 353 21 40 Joaquín Rivera [email protected] +34 91 353 21 40 The Fintech Revolution ARCANO Arcano, the firm of reference for investing in Spain www.arcanopartners.com Arcano is a leading independent advisory firm with offices in Madrid, Barcelona and New York. The company has three areas of specialisation: Investment Banking, Asset Management, and Multifamily Office. Our team is formed by more than 150 qualified professionals devoted to offering financial advisory services and tailored solutions for our clients with a unique, independent approach. Arcano’s Investment Banking area leads the Spanish market in the mid- and small-cap companies segment, with a special focus on real estate, both in mergers and acquisitions of capital venture firms, family enterprises and listed companies, headed by Jorge Vasallo ([email protected]). -
The Case of New York City's Financial District
INFORMATION TECHNOWGY AND WORLD CITY RESTRUCTURING: THE CASE OF NEW YORK CITY'S FINANCIAL DISTRICT by Travis R. Longcore A thesis submitted to the Faculty of the University of Delaware in partial fulfillment of the requirements for the degree of Honors Bachelor of Arts in Geography May 1993 Copyright 1993 Travis R. Longcore All Rights Reserved INFORMATION TECHNOWGY AND WORLD CITY RESTRUCTURING: THE CASE OF NEW YORK CITY'S FINANCIAL DISTRICT by Travis R. Longcore Approved: Peter W. Rees, Ph.D. Professor in charge of thesis on behalf of the Advisory Committee Approved: Robert Warren, Ph.D. Committee Member from the College of Urban Affairs Approved: Francis X. Tannian, Ph.D. Committee Member from the University Honors Program Approved: Robert F. Brown, Ph.D. Director, University Honors Program "Staccato signals of constant information, A loose affiliation of millionaires and billionaires and baby, These are the days of miracle and wonder. This is a long distance call. " Paul Simon, Graceland iii ACKNOWLEDGEMENTS The author would like to recognize and thank Dr. Peter Rees for his guidance on this project. Without the patient hours of discussion, insightful editorial comments, and firm schedule, this thesis would have never reached completion. The author also thanks the University Honors Program, the Undergraduate Research Program and the Department of Geography at the University of Delaware for their financial support. Many thanks are due to the Water Resources Agency for New Castle County for the use of their automated mapping system. IV TABLE OF CONTENTS LIST OFTABLES .................................... viii LIST OF FIGURES ix ABSTRACT ....................................... .. x Chapter 1 THE CITY IN A WORLD ECONOMY ................... -
Trust and Confidence
CHAOS_KENRO.ai 1 21/02/12 18:04 Trust and Confi dence An Interview with James B. Lee Jr., Vice Chairman, JPMorgan Chase & Co. EDITORS’ NOTE In 1975, Jimmy Well, you are talking to one of the Do you feel that entrepreneurship and Lee joined Chemical Bank and most incurable, patriotic optimists out innovation are being lost in the U.S.? worked in a variety of spe- there. Yes, I think we have probably No, I don’t agree with that. I spend cialty lending businesses until lost a little of our mojo, but we will a lot of time in Silicon Valley and the num- 1980, when he founded and get it back. ber of smart young people there who are ran Chemical’s merchant bank in We have gone through much launching their careers is just staggering. And Australia. He returned to the U.S. worse before as a nation and we will they are funded by real companies this time in 1982 and started the bank’s syn- get through this. The American way around. dicated loan group, which consti- is very rehabilitative; just look at our Twelve years ago, I was fortunate tuted the origins of the investment bankruptcy code. Every American enough to lead the team when we acquired banking business at Chemical loves the Comeback Kid. Hambrecht & Quist. That deal did four things and later Chase Manhattan Bank. The American people are not for us that I felt were important at the time: James B. Lee Jr., C Lee ran the investment bank un- happy. -
The Chase Manhattan Corporation Competitive Outlook Post Mergers·And Associated Corpora,,~ Restructuring in the "New Era&Q
The Chase Manhattan Corporation Competitive Outlook Post Mergers· and Associated Corpora,,~ Restructuring in the "New Era" ofWorld Banking Charles M Becker, TCU EdwardM McNertney, TCU Abstract This paper examines the financial position ofthe Chase Manhattan Corporation as it prepares to enter a "new era" of increasingly stringent worldwide competition for banking services. The study is based primarily on accounting data analysis from appropriate corporate documents. These included audited annual reports as well as SEC Form 10K's. Introduction The authors of this paper decided to undertake an investigation of one of America's premier wholesale banks, Chase Manhattan Corporation, in an effort to ascertain its current and recentfinancial status and performance relative to its ability to compete into the future. One disclaimer that should be clearly understood from the beginning of this exercise follows: the authors make no claim, either explicit or implicit that the "new era" competitive position ofThe Chase Manhattan Corporation can be analyzed in terms of a simple model such as a Von Neumann-Morganstern two person zero sum game model.! It would be convenient indeed ifthings were so simple that one could treat the situation as a case ofChase against the world or some world proxy. Unfortunately Chase competes already on an international scale against a host offoreign as well as domestic rivals who in addition compete directly against one another for dominance within the New York Clearinghouse regional area. 2 This being the case it was decided to attack the issue at hand by conducting an analysis of Chase Manhattan Corporation as a stand-alone entity. -
Chemical Bank
Chemical Bank 1 1 Abstract In 1993, Chemical Bank and Manufacturer’s Hanover merged and launched a metropolitan markets division that targeted customers and small businesses in New York City. Retail banking was experiencing slow revenue growth, rising costs, increasing outflows of deposits to mutual funds, and more demanding customers. Chemical Bank’s new three-pronged strategy involved over 100 major initiatives for changing every part of the business. The executive team felt strongly that this scope and depth of change would require strong management. They selected the Balanced Scorecard as a tool for focusing and controlling these change efforts. They also found it useful on two occasions for reducing the number of retail branches while minimizing account losses. This case study covers the years 1993-1996. Chemical Bank achieved the following as a result of its Balanced Scorecard implementation: • Retained 85-90% of targeted customer accounts in spite of massive branch closings resulting from merger with Manufacturers Hanover. • Retained 95-100% of targeted account balances when a second merger was completed in with Chase Manhattan in 1996. Chemical Bank exemplifies the following principles of a Strategy-Focused Organization: • Translate the Strategy • Mobilize Change Through Executive Leadership • Make Strategy a Continual Process 2 Background In 1991, Chemical Bank and Manufacturers Hanover Corporation completed one of the largest bank mergers in history to become the Chemical Banking Corporation (CBC). This new entity grew still larger during the initial years of its Balanced Scorecard implementation (1993-96) to become the second largest bank in the United States. In 1996 it merged with Chase Manhattan Bank to become the largest bank in the nation, operating under the name of Chase Manhattan Corporation. -
Branching and Merging Under New York's Omnibus Banking Law
[Vol.115 BRANCHING AND MERGING UNDER NEW YORK'S OMNIBUS BANKING LAW State-chartered banks and trust companies in New York State have been permitted to open branches within their head office city since before the turn of the century.1 The large number of bank failures in the 1930's led many to propose some expansion of the branching and merger powers in order to strengthen a system seri- ously weakened by the Depression.2 The New York State Legislature reacted in 1934 by enacting legislation which divided New York State into nine districts within which state banks and trust companies could branch and merge? State banks and trust companies, however, could not branch into a city or village in which there was already located the "home office" of another bank, trust company or national banking association.4 The law pertaining to branching and merging remained un- changed despite criticism and persistent lobbying for twenty-six years by the larger commercial banking institutions of the state, par- ticularly those located in New York City.' Agitation for reform of what was considered by disinterested students to be an archaic banking code culminated in serious legislative consideration in 1959 of a bill essentially the same as that finally enacted in 1960. This bill, however, although vigorously pressed by the leaders of the Republican Party which controlled both houses of the New York Legislature, was de- feated by a coalition consisting of the entire Democratic minority and a group of Republicans? The same coalition was expected to prevent passage of the 1960 legislation 7 but a sudden shift in both houses by Democratic legis- lators from Brooklyn and the Bronx' resulted in swift enactment of the so-called Omnibus Banking Bill of 1960.' The new Omnibus Banking Law made significant changes in the law pertaining to branch- ing and merging of banks in the New York City area.