REGIONAL BANKING
BANKAMERICA, the nation's third-largest bank, says that by yearend it will have 50 supermarket branches in the Chicago area. Page 4
COMMUNITY BANKING
THE BIGGEST BANKS are pulling back from go-go consumer lending, but community banks are staying the course. Page 6
LABE FEDERAL Bank for Savings in Chicago is using a new check-cashing program to attract people who traditionally have relied on local currency exchanges. Page 7
PROFESSIONAL DEPOSITORS and institutional investors, among the most powerful forces in newly converted thrifts during the last year, have become far more selective. Page 6
MORTGAGES
SEATTLE MORTGAGE, the largest independent mortgage company in Washington state, has made a deal that moves it into the nonconforming market. Page 8
WASHINGTON
The chairman of the House Domestic and International Monetary Policy Subcommittee, Rep. Michael Castle, gained support for his view that market forces should shape the landscape of electronic commerce. Federal Trade Commission member Christine Varney said she favors a hands-off approach by banking regulators. Page 2
THE HOUSE Banking Committee's latest rescue plan for the thrift fund would slash the industry's costs and would require the Federal Reserve to contribute. Page 3
INVESTMENT PRODUCTS
FEDERATED INVESTORS in Pittsburgh hired Thomas N. Munsell, who was a key marketing executive at Fleet Financial Group's proprietary mutual fund program. Page 10
THE NATION'S oldest mutual fund company, Massachusetts Financial Services, is planning a $10 million television and print advertising campaign to begin in September. Page 10
CREDIT/DEBIT/ATMs
UNION BANK of California is teaming up with Transactive Corp. to bid for electronic benefits transfer business in California, including contracts to deliver welfare and food stamp payments through electronic terminals. Page 11
CHICAGO INVESTMENT bank William Blair & Co. has taken an equity stake in Integrated Delivery Technologies Corp., the company behind the upstart Cartel Network. Page 11
TECHNOLOGY
THE DIRECTOR of the Federal Reserve's automation resources, Carl E. Powell, announced plans to retire by the end of next week. Page 13
RAPID CHANGES in technology are driving down data processing costs, and vendor partnerships can provide value that banks cannot generate internally, write two banking consultants. Page 13
FINANCE
SANDLER O'NEILL is launching a company to create fund pools that will invest in the stock of financial companies. Back page
BANKS' STREAK of surging profits probably won't end soon because the economy isn't about to stumble, bond investors say. Back page
