Today's News

NATIONSBANK, Crestar Financial, Riggs National, and First Union have all put branches in Anacostia - a poverty-stricken, crime-ridden section of Washington that three years ago was home to just one bank. In addition to profit from projects like Good Hope Marketplace (above), they are seeking visibility with federal regulators. Page 9 COMPETITION and compliance with the Truth-In-Savings Act are fueling credit unions' software purchases, a survey of 800 credit unions by the Credit Union National Association has found. Page 10 WASHINGTON: REP. JIM LEACH, the new chairman of the House Banking Committee, introduced legislation Wednesday that would lift the 7% annual growth cap on grandfathered nonbank banks. Page 2 THE USUALLY nonpartisan Senate Banking Committee kicked off the new year with a round of party-line bickering that could set the tone for the year's legislative work. Page 4 REGIONAL BANKING: JAMES B. WILLIAMS, chairman and CEO of SunTrust Banks Inc., says his company had its best year ever in 1994, with return on assets reaching 1.33% for the first nine months and return on equity, 17.64%. Page 5 COMMUNITY BANKING: WASHINGTON STATE's community banks, preparing for the advent of interstate branching, are pressing for tighter caps on market share of deposits. Page 7 INVESTMENT PRODUCTS: MARKETING more investments to customers who have already bought them could pay off for banks because most are not doing enough of these so-called repeat sales, says consultant Kenneth Kehrer. Page 12 SHAWMUT NATIONAL is the latest of a handful of banks to offer a way to invest in Israel through a family of mutual funds. Page 13 MORTGAGES: THE RENEGOTIATION of Fleet National Bank's purchase of Plaza Home Mortgage - at a price of $7.625 per share, down from $10.125 - is graphic evidence of how quickly market conditions have worsened. Page 14 TECHNOLOGY: TO EXPAND its market share and give customers more convenient service, Market Street Mortgage Corp. is using an automated telephone service developed by Creative Solutions Group for loan preapprovals. Page 18 FINANCE: A $3 BILLION line of credit being arranged for the Mexican government by Citicorp and J.P. Morgan & Co. prompted critics in the financial markets this week to raise the specter of a new foreign debt crisis in the making. Page 22 REPORTED LOSSES in some bank portfolios of securities held for sale have already caused a decline in those banks' stock prices, but their trouble with securities valuation may just be starting, some analysts say. Back page