Today's News

INVESTMENT PRODUCTS: STAR BANC CORP. lost out on a potential $592,500 in annuity management fees last year, according to chief investment officer Gary Bateman, so it plans to launch one of its own and expand sales of its proprietary mutual funds. Page 10 KEYCORP, moving to streamline operations, will merge seven of its Victory Funds into portfolios with similar investment strategies. Page 10 WASHINGTON: FEDERAL RESERVE Board Chairman Alan Greenspan issued a call for a single regulator with authority to oversee an entire financial institution, including banking and nonbanking affiliates. Page 2 LITTLE BY LITTLE, bankers are beginning to accept the idea of merging their business with the thrift industry - lock, stock, and insurance fund. Page 3 REGIONAL BANKING: CITIZENS FINANCIAL Group Inc., the Providence, R.I.-based subsidiary of Royal Bank of Scotland, reported earnings of $13.2 million for the quarter ended March 31, a 67% increase from the year-earlier period. Page 4 AMSOUTH BANCORP. has announced the departure of two of its top eight officers, amid a sweeping program to cut costs. Page 4 COMMUNITY BANKING: TEXAS GOV. George W. Bush signed an opt-out bill into law this week, making his state the first to bow out of the Riegle-Neal Interstate Banking and Branching Act of 1994. Page 6 A SECOND Florida thrift is suing New York State Superintendent of Banks Neil Levin, accusing him of planning to use $1 million of its cash collateral to pay off the debts of Nationar, a failed check-clearing company. Page 7 MORTGAGES: FANNIE MAE and Freddie Mac jockeyed for position in their technology race this week as mortgage bankers gathered in New York for a major convention. Page 8 A STORM that left five dead in the New Orleans area also caused significant damage to the Hyatt Regency, site of this week's ABA consumer credit conference. Page 8 CREDIT/DEBIT/ATMs: IN THE MIDST of the National Basketball Association playoffs, American Express Co. has scored with a potentially lucrative NBA sponsorship. Page 12 FIFTH THIRD Bancorp and Kroger Co. have been quietly crossing state lines with their MasterCard, tempting supermarket shoppers in five new cities. Page 12 TECHNOLOGY: FIRST DATA Corp. has named Robert L. Albin president of the retail services division of its integrated payment systems unit, which manages several business for American Express. Page 15 FINANCE: FOLLOWING robust earnings reports for the first quarter at NBD Bancorp and BankAmerica Corp., the banks have came to market with $350 million of bonds. Back page IS H.F. AHMANSON & Co. getting ready to ditch the Big Apple? Several sources said they've heard that the California-based thrift company, the nation's largest, is negotiating the sale of its New York branch system to GreenPoint Financial Corp. Back page