Today's News

WASHINGTON

BANC ONE plans to proceed with its launch of a credit card drawing on a customer's 401(k) funds despite an effort in Congress to outlaw the product. Page 2

AS THE FDIC begins to assert its right to sue on behalf of scores of failed thrifts, the number of goodwill cases could more than double to 225. Page 3

REGIONAL BANKING

A SUNTRUST subsidiary has signed up as the first bank participant in a television marketing program that allows borrowers to earn cash rebates. Page 7

COMMUNITY BANKING

AS SMALL BANKS try to expand and remain competitive in a changing and consolidating banking environment, their boards may face a dilemma: Who gets stock when there are too many takers? Page 8

A MIDSIZE community thrift in Manhattan is staking a claim in a Queens thrift - the latest move in a year in which New York City's community banking market has become rife with mergers, or talk of them. Page 9

CREDIT/DEBIT/ATMs

NYCE plans to announce today that it has won the business of providing remote banking services to Bank of New York's customers. The agreement puts the ATM network in competition with Intuit, Microsoft, and Visa Interactive. NYCE chief operating officer Dennis Lynch said one lure is the branding factor: The software is customized, presenting the bank's identity rather than a third party's. Page 14

MORTGAGES

ASSOCIATES FIRST Capital seeks to bring its highly personal business style to the 77 Fleet Finance branches it recently bought. Page 10

MORTGAGE BANKS soon will expand their reach by making loans to U.S. citizens on vacation homes in Mexico, Standard & Poor's predicts. Page 10

INVESTMENT PRODUCTS

FIRST MICHIGAN is offering a new allocation account designed for people with $50,000 to $200,000 to invest. Page 12

MARINE MIDLAND has spruced up its investment product and trust operations by consolidating several business lines and combining two sales forces. Page 13

TECHNOLOGY

FINANCIAL INSTITUTIONS should take advantage of patent laws and protect their eligible investment products and services, two lawyers write. Page 15

FINANCE

AN UNEXPECTEDLY robust consumer price report by the Labor Department reignited inflation fears, slamming the brakes on a two-week bank stock rally. Page 24

ALMOST TWO YEARS of work bore fruit last week when First Union brought $39 million in revenue bonds to market for Tuskegee University. Page 24

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