WASHINGTON:
A HOUSE PLAN to ease banks' regulatory burden will "eviscerate" the Community Reinvestment Act, a group of Democrats claims. Page 2
BANKAMERICA CORP. has won regulatory approval Friday to become the first 50-state bank. Page 2
REGIONAL BANKING:
EVEN AS its bidding war for First Interstate rages on, Wells Fargo is attacking the California banking industry with a new checking account that carries no fees for those making strictly electronic transactions. Page 6
IN ITS EIGHTH Latin deal of the year and its second for the same company, Chase Manhattan said it has advised Italy's Parmalat SpA on the purchase of a subsidiary of Corimon Sacalif, a Venezuelan industrial group. Page 6
COMMUNITY BANKING:
A LONGTIME champion of the mutual thrift has joined the growing ranks of those converting their institutions to stock ownership. Page 19
MORTGAGES:
THE TRADE GROUP representing the large California thrifts is trying to bring some pressure on Freddie Mac, which plans to raise its loan limit to $207,000 next year. Page 22
INVESTMENT PRODUCTS:
FIFTH THIRD Bancorp is trying to reap competitive dividends from its dual roles as manager and servicer of mutual funds. Page 10
MORE BANKS are expected to follow State Street's lead and form joint ventures with providers of employee benefits. Page 11
CREDIT/DEBIT/ATMs:
FIRST USA INC. has introduced an integrated credit/debit card terminal that it will market to small and midsize retailers. Page 16
TECHNOLOGY:
SEAFIRST CORP. is offering a toll-free mortgage-by-telephone service that can be accessed by real estate agents and their customers via cellular telephone as they look at properties. Page 15
FINANCE:
AN ANALYST's upgrade of Wachovia Corp. demonstrates a shift away from the conventional wisdom about bank stocks. Back page
CREDIT UNIONS:
CALIFORNIA led the nation in the expansion of credit union membership bases during the first half, Sheshunoff Information Services reports. Page 12
WASHINGTON STATE's banking regulator has found a new ally in his fight to banish private deposit insurance for credit unions from his turf: former Rhode Island governor Bruce Sundlun. Page 12
