WASHINGTON:
FED GOVERNOR Lawrence B. Lindsey has backed a broad set of regulatory reforms to spur investment in the nation's inner cities. Page 2
THE DEPARTMENT of Education is planning to exempt banks and other financial institutions holding less than $5 million of student loans from costly audit requirements. Page 2
REGIONAL BANKING:
MARKETING DEPARTMENTS are getting higher profiles at banks as top executives realize that their futures may depend on them. The Bank Marketing Association will explore the issue at its annual conference, starting Sunday in Nashville. Page 4
COMMUNITY BANKING:
AFTER two and a half years, San Francisco's Pacific Bank has shed a federal consent order - a move that will probably be one of the final passages in a difficult recovery. Page 6
A $135,000 REWARD offer led by some of California's biggest banks may have been a factor in the arrests of five suspects in connection with a botched community bank robbery last month in which a teller was fatally shot.
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MORTGAGES:
EXECUTIVES of UJB Financial and Summit Bancorp say their planned merger, which would create the state's largest independent bank, would permit faster expansion of their mortgage business. Page 8
DATA GENERAL will supply the computer hardware to run Virtual Realty Network Inc.'s soon-to-be-released video conferencing system, meant to bring together borrowers, real estate agents, lenders, and loan facilitators. Page 8
INVESTMENT PRODUCTS:
AMONG NONBANK mutual fund companies, bank brokerage executives give the highest marks to those that train bank brokers to prospect for clients. Page 10
CREDIT/DEBIT/ATMs:
TOYS R US and Bank of New York launched a cobranded Visa card offering travel rewards and rebates on store merchandise. Page 14
PNC BANK CORP. has joined the NYCE regional electronic banking network, becoming the largest bank to do so since Citicorp in 1994. Page 14
FINANCE:
MERRILL LYNCH has finally joined the crowd on Citicorp stock, awarding it a "buy" recommendation. Citi shares jumped in heavy trading. Back page
KPMG PEAT MARWICK has entered a "strategic alliance" with an investment bank to sidestep restrictions on accounting firms. The goal: profits from consolidation in a number of industries, including banking. Back page
