Today's News

INVESTMENT PRODUCTS: ROBERT F. RADIN, president of the First Data Corp. unit that manages its mutual fund business, says fund servicing "is going to become an increasingly important contributor" to the company's growth. Page 15 WASHINGTON: REPUBLICANS are prepared to hit the ground running today as the new Congress convenes, but banking issues may only get broad-brush treatment during the first 100 days. The GOP's "Contract with America" will take priority. Page 2 BANKS AND THRIFTS can expect a number of changes in capital rules as the new year unfolds. Mortgage lenders, for example, will be watching the capital requirements for servicing rights. Page 4 REGIONAL BANKING: FIRST UNION National Bank of Florida said it will buy Coral Gables Fedcorp Inc. for $26.59 in cash per share. The thrift holding company is the parent of Coral Gables Federal Savings and Loan Association, which has about $2.5 billion of assets. Page 6 COMMUNITY BANKING: A PENNSYLVANIA institution, National Bank of the Commonwealth, risking the wrath of the state's insurance industry, has become the latest to offer the "Retirement CD." Page 10 MERGER MANIA has descended on community banking throughout the United States. And lawyer James M. Rockett offers some tips for avoiding common pitfalls during the current rush to seek merger partners. Page 11 CREDIT/DEBIT/ATMs: MASTERCARD International is trading in its Manhattan address for a sprawling 47-acre property in suburban Purchase, N.Y. The card association plans to move all 575 of its headquarters employees into the former North American head office for IBM Corp. Page 12 OLD KENT Financial Corp. has bolstered its small but growing credit card program by adding a frequent-flier enhancement. Page 13 MORTGAGES: MELLON MORTGAGE is finding the Pacific Northwest, which it entered last August when it bought the production and servicing operations of U.S. Bancorp Mortgage, quite comfortable despite the weak mortgage market. Page 14 SOME ANALYSTS and economists are beginning to predict an inversion of the yield curve in the first half of 1995. They are still in the minority, but most others agree that the curve will at least flatten. Page 14 TECHNOLOGY: CLARKE AMERICAN, the third-largest check printer in the United States, has announced its participation in a growing industry movement to combat check fraud by adding security features to check blanks. Page 18 STERLING SOFTWARE's electronic commerce group said it has launched an on- line information service for users of its electronic commerce products and services. Page 18