WASHINGTON:
WITH JIM LEACH'S version of Glass-Steagall reform apparently going nowhere, some on Capitol Hill believe Congress needs to try something much bolder. Page 4
REACTING to the Daiwa Bank scandal, the head of a key House Banking subcommittee said the pending regulatory relief bill should be rewritten to maintain tough audit requirements on banks. Page 2
REGIONAL BANKING:
ASSETS of foreign banks are surging in Texas, which only a decade ago prohibited them from taking deposits or making loans. Matthew C. Flanigan, who runs Societe Generale's Dallas agency, says that by one measure, it's the French bank's most profitable office. Page 6
A MARKETING SNAFU has produced some red faces at NationsBank of Texas and sent the company scrambling to withdraw a mail solicitation for home equity loans. Page 5
COMMUNITY BANKING:
ANTELOPE VALLEY Bank does its business in California's foreclosure capital, but it's managing to keep its head above water. Page 7
KEITH DALRYMPLE, the first insider to head the American Association of Bank Directors, says the group is focusing more than it used to on activities other than lobbying. Page 7
MORTGAGES:
WHEN THEY PUSH mortgage loans, commercial banks and thrifts put themselves on the line to a greater extent than government-sponsored enterprises such as Fannie Mae and Freddie Mac. Page 10
GMAC MORTGAGE has agreed to purchase $4.7 billion of servicing rights from a privately owned mortgage company in Dallas. Page 11
CREDIT/DEBIT/ATMs:
WITH THE INDUSTRY at a crossroads, credit card marketers who normally fight over cardholders joined forces last week to devise strategies to compete in the age of electronic commerce. Page 16
THE NATIONAL Automated Clearing House Association has hired to oversee its electronic benefits transfer council a pro with 10 years experience helping develop state EBT programs. Page 17
TECHNOLOGY:
FACING shrinking membership rolls as the banking industry consolidates, two Mid-Atlantic automated clearing house associations have agreed to merge. Page 12
THE MICROSOFT standard known as Wosa has made the shift to open architecture easier for financial institutions, Nexus Software president Philip G. Lippard writes. Page 14
FINANCE:
BANK STOCKS have been on a roll, based on market expectations that the Federal Reserve will cut interest rates before Christmas. Back page
BANKERS TRUST will use a London court ruling to bolster its defense in Procter & Gamble Co.'s derivatives lawsuit. Page 22
