Today Index

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

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