WASHINGTON
In what seems to be a first, the Fed and the OTS have required Memphis' Union Planters to identify all the branches it would close after buying a thrift. Page 2
The House Small Business Committee is to vote Wednesday on legislation that would restructure two Small Business Administration programs used by thousands of banks. The ABA mostly supports the legislation. Page 3
REGIONAL BANKING
Discarding a plan to keep separate names for their wholesale and retail operations, Bank of Boston Corp. and BayBanks Inc. will adopt a single name, BankBoston Corp., when they merge at the end of July. Page 4
Republic New York, Sterling Bancorp, and Fleet are being sued by nine people who invested with a Brooklyn philanthropist. He allegedly stole from their escrow accounts at the banks. Page 4
CAREER TRACKS
Tellers aren't the anachronism predicted when the ATMs were introduced, but their role is changing. Page 5
MORTGAGES
With interest rates climbing more than 150 basis points since February, consumers have been flocking back to adjustable-rate mortgages. Page 6
Some banks spend millions setting up stand-alone units to turn mortgages into securities. Centura took a quicker route: buying a company that creates mortgage securities. text here. Page 6
INSURANCE
A survey casts doubt on widespread projections that banks will become the leading sellers of fixed annuities. Page 8
First Chicago NBD, halfway through its first full year as a combined entity, is revving up its insurance sales program. Page 8
INVESTMENT PRODUCTS
Weiss, Peck & Greer, a New York firm best known for its investment management acumen, is aiming to increase its clearing business. Page 11
COMMUNITY BANKING
Would-be investors in a tiny Southern California bank say prejudice against Native Americans is keeping state officials from approving an ownership transfer. Page 12
CREDIT/DEBIT/ATMs
Access, the venerable name that appears on MasterCards in the United Kingdom and Ireland, will disappear over the next two years. Page 14
Dallas-based First USA has has bought 10,000 merchant accounts with $700 million in annual credit card volume from Mercantile Bancorp., St. Louis. Page 15
FINANCE
Cole Taylor Financial executives met with Duff & Phelps analysts to try to head off a debt downgrade. Page 22