WASHINGTON
PENTAGON FEDERAL Credit Union won National Credit Union Administration agreement to release documents in the 1995 failure of Capital Corporate Credit Union, which cost Pentagon Federal $1 million. Page 2
REP. JIM LEACH may have harmed relations with bankers by backing a gambit to limit the OCC's power. Page 3
REGIONAL BANKING
CHASE MANHATTAN arranged a $400 million revolving credit facility for Russian companies, Russian-American joint ventures, and Russian units of U.S. companies. Page 5
FEE INCOME more than offset sluggish second-quarter loan growth and higher credit losses at big Midwest banks, including Fifth Third and TCF Financial. Page 7
SMALL BUSINESS
A HANDFUL of direct marketing powerhouses will dominate the lower end of the loan market by the year 2000, a consultant predicted. Page 8
WELLS FARGO says it is on track to lend more nationwide than it did last year. Page 11
COMMUNITY BANKING
ADAMS NATIONAL, the first and largest federally chartered bank owned and run primarily by women, is examining mergers after six years in suspended animation. "We have targeted two possibilities in Maryland and five in the state of Virginia," said Barbara D. Blum, chief executive of the $88 million-asset bank in Washington, D.C. Page 12
HURRICANE BERTHA left an estimated $155 million in crop losses in North Carolina - and farm lenders are weighing the financial impact on borrowers. Page 13
INVESTMENT PRODUCTS
SMITH BARNEY, one of the mutual fund industry's feistiest players, has some advice for banks in the business: Get out if you won't invest adequately to grow. Page 14
GLENDALE FEDERAL is looking to Metropolitan Life to help boost sales in its fledgling life insurance unit. Page 15
MORTGAGES
KNUTSON MORTGAGE is shutting its California wholesale office and will do all its business out of its Minneapolis office. Page 16
CREDIT/DEBIT/ATMs
BOATMEN's Bancshares promoted James Ahearn to chairman and CEO of its credit card bank and Terry Allen to president and chief operating officer. Page 18
MASTERCARD hired Robert Wesley, a leader in American Express' smart card efforts, as senior vice president of global product management and development. Page 18
TECHNOLOGY
BANK TECHNOLOGY stocks stabilized at the end of last week after the greatest volatility in years. Page 20
ELECTRONIC DATA interchange is profitable, advocates say, but financial EDI has largely failed to turn a profit even as corporate customers demand it. Page 21
MARKET MONITOR
ANALYSTS reevaluating their positions after a turbulent week in the stock market were only cautiously optimistic about banking and financial stocks. Page 25
