SPECIAL REPORT:
NEW TECHNOLOGIES are combining with the familiar card-shaped plastic to open new doors in the home, turnstiles in subways, and numerous other business opportunities for financial institutions and others quick enough to take advantage. Pullout section
REGIONAL BANKING:
A POLL of consumer attitudes on the Chemical-Chase merger gave a New York thrift grist for an advertising campaign underscoring old-fashioned community banking values. Page 6
NATIONSBANK is sponsoring a November symposium in London on fraud, along with Banco Santander of Spain and the Royal Bank of Scotland.
Page 5
SMALL BUSINESS:
WITH SECURITIZATION looming, lenders that originate small-business loans will have to be sensitive to emerging standards for credit scoring and documentation, says, writes David N. Bernstein of Furash & Co. Page 10
COMMUNITY BANKING:
AT LEAST HALF of the highly regarded leadership team of Intercontinental Bank of Miami is set to work for the bank's prospective new owner, NationsBank. Page 11
AGRICULTURE and community banks "are a strong partnership" in Wisconsin, says the new executive director of the state's small-bank trade group. Page 12
MORTGAGES:
AUGUST ORIGINATIONS at Countrywide Funding and North American Mortgage far outpaced those of a year earlier. Executives credited expansion efforts and a hardy housing market.
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INVESTMENT PRODUCTS:
AMID A FLURRY of merger rumors in the investment products marketing industry, one name repeatedly mentioned as a takeover target is Independent Financial Marketing Group. Page 17
CREDIT/DEBIT/ATMs:
VISA INTERNATIONAL has hired two key executives for its stored value and smart card programs and has lined up Motorola as a chip supplier. Page 18
BANK OF BOSTON is getting back into the credit card business, after a five-year hiatus, with low-rate cards targeted at consumers who carry balances.
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TECHNOLOGY:
PEROT SYSTEMS' unusual technology alliance with Swiss Bank Corp. is expected to benefit both.
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WASHINGTON:
THRIFT PROFITS rose 16.4% in the second quarter, to $1.35 billion, the Office of Thrift Supervision reported. Regulators attributed the increase to lower interest rates, which boosted the value of mortgage-backed securities in thrifts' portfolios. Page 2
FLEET FINANCIAL Group announced plans to provide $208 million for community reinvestment programs in Connecticut. The move is part of a deal with the state's attorney general, who had threatened antitrust action against Fleet on its planned merger with Shawmut National.
Page 3
FINANCE:
UJB FINANCIAL's stock plummeted after the New Jersey banking company said it would acquire Summit Bancorp.
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