Gas industry
The California Housing Finance Agency (CHFA) and Bank of America Community Development Bank have announced a groundbreaking program to enable mobilehome park tenants to acquire the parks where they live. This innovative program is the first to use tax-exempt bond financing for tenant acquisition of mobilehome parks. The program aims
Commercial banks
CoreStates Financial Corp, a regional bank with assets totaling $27 billion, has chosen the 20/20 Small Business Lending System developed by APPRO Systems to automate its credit evaluation process for small business lending. This decision aligns with the bank's strategy to streamline operations and provide enhanced customer
Commercial banks
State Commerce Commissioner Gualberto Medina encouraged more than 12 New Jersey banks to support the state's Disability & Non-Profit Micro Loan Fund, a program that provides loans to businesses run by individuals with disabilities or employing disabled people. The meeting was hosted by The Bank of New York
Commercial banks
Eldorado Bancorp, parent company of Eldorado Bank, has reassured investors about the impact of Orange County's bankruptcy filing on the company's operations. Despite the economic uncertainty, the bank's president, J.B. Crowell, maintains that Eldorado Bank has experienced no immediate impact from the bankruptcy.
Commercial banks
Citibank's Moscow subsidiary, Citibank T/O, has introduced a safekeeping service for Russian Federation Ministry of Finance issued US dollar-denominated (MinFin) bonds, catering to the growing demand from international customers. The new service is expected to be complemented by equity custody services, further expanding Citibank's securities
Commercial banks
As a leading bond insurer, AMBAC Indemnity Corp. has committed to ensuring timely payment of principal and interest to its policyholders in the event of a default by Orange County, California, which recently filed for bankruptcy. According to Phillip B. Lassiter, chairman, president, and CEO of AMBAC Indemnity Corp., the
Commercial banks
Peter E. Fisher, 47, has been promoted to the position of President and Director of Charter National Bank-Houston, the largest banking subsidiary of Charter Bancshares. Fisher, formerly Executive Vice President for Charter-Houston, will oversee the bank's operations while continuing to have supervisory responsibility over the area. The promotion
Commercial banks
The Summit Bancorporation, a $5.5 billion New Jersey bank holding company, has been selected for inclusion in the S&P SmallCap 600, a new index designed by Standard & Poor's to track the stock performance of smaller capitalization companies. This inclusion is expected to provide increased
Commercial banks
The telecommunications industry witnessed a significant development on November 1, 1994, as NYNEX and MFS Telecom Inc. signed a seven-year, multi-million dollar contract with Citicorp to provide a seamless, high-speed private data service. This historic teaming arrangement marked the first time a Regional Bell Operating Company and a Competitive Access
