Mellon Bank customer finally gets fees back

Article Abstract:

Mellon Bank of Pittsburgh, PA, finally relented and paid the full amount customer Marlene Winkler claims she is owed by the bank. Winkler claimed she was owed a total of about $100, but the bank, which admitted to the erroneous charge, said it would only refund $25 of the amount. Taking her complaint to bank chairman Frank V. Cahouet, the Office of the Comptroller of the Currency and to US Sen. Alren Specter (R-PA), the bank finally agreed to pay the full amount, but still insisted that it was only obligated to pay two months' worth of refunds. The bank said that under its checking-account rules, a customer has 60 days to correct errors in their accounts and failing to do so will lead the bank to presume that a customer's monthly statement is correct.

Comment:

Finally relents and pays the full amount customer Marlene Winkler claims she is owed by the bank

Public affairs, Mellon Bank Corp., Article

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Summit Bank defines itself with price cut; it is a worrisome move for some analysts

Article Abstract:

Summit Bank's Mar 1999 announcement that it would lower minimum balance requirements worried banking analysts, who feared Summit was targeting customers unable to pay for such high-margin services as mutual funds. Summit, however, contends that customers with balances under $1000 are among the company's most profitable. Some banking analysts, too, believe the lowering of minimum balance will help mid-sized Summit, which has $33 billion in assets, compete with industry giants. In fall 1999, Summit's minimum balance was the largest in the Philadelphia area.

Marketing procedures, Company Planning/Goals, Demographics, Summit Bank (Bethlehem, Pennsylvania)

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Safeguard ouster gets a low-key response

Article Abstract:

Safeguard Scientifics Inc. CEO, Warren Musser, resigned under pressure. The Wayne-based holding company is trying to rebound from the market collapse of its Internet investments and it own stock price.

Diversified Companies, Executive changes & profiles, Safeguard Scientifics Inc., SFE

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