WASHINGTON
The Texas insurance commissioner released interim rules permitting national and state-chartered banks to sell insurance products. Page 2
Sen. Alfonse D'Amato turned from a lonely opponent of a new term for Fed Chairman Alan Greenspan four years ago to one of his staunchest defenders this time around. Page 3
COMMUNITY BANKING
Beverly Hills' bank to the stars, City National, said it plans to establish a unit to finance producers, suppliers, and distributors of farm products. Page 5
MORTGAGES
Chase Manhattan is diving into point of sale originations via an alliance with Remax International, one of the top four realty agencies in the nation. Page 6
CrossLand Mortgage is offering to approve home loans to Florida residents within 30 minutes. Page 7
CREDIT/DEBIT/ATMs
The government may change the way it awards credit card contracts. The General Services Administration has been awarding single-vendor pacts but now is proposing that each agency award its own. "You have to satisfy the agencies, so you're always better off doing your business at an important decision point," said Philip Heasley of First Bank System. Page 18
REGIONAL BANKING
Despite many bankers' nervousness about consumer finance, a top bank executive says those loans have been priced to cover losses. Page 10
To beef up commercial lending at a branch of its Kentucky bank, PNC Bank Corp. hired Edward Breathitt, a former governor of the state. Page 10
SMALL BUSINESS
Big-company layoffs are freeing talented and expert executives that smaller companies can snap up, but some castoffs use their capital to start competing businesses. Page 13
It took eight months and two bouts in small-claims court before Fleet Financial compensated a checking customer for improperly cashing a stolen check. Page 12
INVESTMENT PRODUCTS
State Street Bank and Trust retained its master trust custody contract with Calpers by offering to cut its fees more than 40%. Page 14
Charles Schwab & Co. brought international mutual fund giant Scudder, Stevens & Clark into its no-fee fund supermarket after years of trying. Page 15
TECHNOLOGY
A dip in the stock price of SPS Transaction Services was the reaction to news that its second-quarter earnings would be disappointing. Page 16
Tandem Computers will install Nestor Inc. fraud-detection software on its own hardware. Page 17
MARKET MONITOR
Bank of New York's $350 million provision against credit card losses hit the stocks of finance and credit card companies hard. Back page
The current economic expansion has just passed its fifth birthday but still looks young for its age to bank economists. Page 21
