WASHINGTON: BANKS THAT CONDUCT their own spot tests to ensure that loan officers are not discriminating against minorities no longer need fear self- incrimination, a senior Justice Department official said this week. Page 2 NO ONE EXPECTS the safety and soundness guidelines that go into effect March 22 to have much impact on the way banks are run - indicating that the Federal Deposit Insurance Corporation Improvement Act lost some of its bite over the three years it took to write implementing rules. Page 3 REGIONAL BANKING: AN ATTORNEY recognized nationally for representing banks in class actions has switched firms in Philadelphia - taking his four-lawyer banking department with him. Page 4 IN A BID to step up its private-banking business, Bank of Boston is lowering the minimum required to open an account to $300,000 from $500,000. Page 5 COMPLIANCE: NATIONSBANK chairman Hugh McColl bucked up an audience fearing CRA repeal by saying that banks must continue to make community reinvestment loans no matter what the rules are. Page 8 MORTGAGES: PORTFOLIO Acceptance Corp. has an edge over the major mortgage banks rushing to join it in the nonconforming home loan business. Because the NationsBank subsidiary retains the loans it originates, it can bend its rules to meet customers' requests. Page 6 COUNTRYWIDE Funding Corp., the nation's No. 1 residential lender, has named Sidney Lenz as a managing director. She will continue to serve as president of another Countrywide Credit Industries subsidiary, the title agency Landsafe. Page 6 INVESTMENT PRODUCTS: A PROPOSAL to tighten regulation of bank brokerages would impose a severe strain on small banks, the Independent Bankers Association of America says. Page 11 BANKAMERICA Corp. is stepping up its drive to get more retail investors into its mutual funds. Page 12 COMMUNITY BANKING: THE PRESIDENT of First National Bank of Oblong says he knows just what to do with the money saved from reduced deposit-insurance premiums. The Illinois bank will give it to shareholders in the form of dividends. Page 16 THE SUDDEN forced resignations of Boston Bancorp's CEO and president have left New England bankers and analysts scratching their heads. Page 15 TECHNOLOGY: TO SPEED the processing of mortgage loans, BankAmerica Corp. plans to give mobile brokers pricing information and immediate rate locks using wireless technology. Page 18 TEKNEKRON Software Systems, a leading supplier of trading software, is reconfiguring its client-server trading applications to run on an advanced Digital Equipment computer. Page 19 FINANCE: BANK STOCKS rallied with the market on favorable inflation news. Labor Department figures on consumer prices and capacity utilization, released early in the day, confirmed the conventional wisdom that the economy had slowed, and sparked a broad-based rally in bonds and stocks. Back page
