MORTGAGES:
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THE NATION's commercial banks backed away from collateralized mortgage obligations last year, but more home loans fueled a 7.6% overall increase in their total mortgage investment.
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WASHINGTON:
PRESIDENT CLINTON urged Congress to pass stand-alone legislation limiting lender liability for hazardous chemical cleanups.
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POLITICAL BICKERING among members of the Federal Home Loan Bank board has blocked the appointment of 24 regional chairmen and directors.
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REGIONAL BANKING:
THE RESTRUCTURING that helped First of America boost earnings last year may not be enough to preserve the Michigan bank's independence, an analyst says. Page 4
COMMUNITY BANKING:
JUST A FEW YEARS after a harrowing debacle in commercial real estate, California community banks have fattened up their portfolios.
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THE EX-PRESIDENT of a Connecticut thrift, accused last year with trying to plant cocaine on a business rival, has agreed to be banned from banking, sources said.
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INVESTMENT PRODUCTS:
AMCORE FINANCIAL's bet in making its proprietary mutual funds no-load seems to be paying off for the Illinois bank.
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TOP EXECUTIVES from the fund firm Alliance Capital hit the bricks on an unusual monthlong, 30-city tour to tout their stock funds.
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CREDIT/DEBIT/ATMs:
STRONG EARNINGS at the four major card banks seemed to alleviate fears of rising consumer delinquencies and restrained consumer card spending.
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A GEORGIA BANK and Block Financial have launched WebCard, a cobranded Visa being marketed to Internet users and subscribers of on-line services.
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TECHNOLOGY:
LOAN-BY-PHONE software will be offered by a partnership between Bisys Group and an Atlanta-based software developer.
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PNC AND ROYAL BANK of Scotland have formed an electronic payments processing alliance that gives each access to the other's clearing systems
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FINANCE:
BANKAMERICA got a "buy" rating from a key analyst on expectations that its new chief executive will initiate a big share repurchase program.
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MORGAN STANLEY has formed a $600 million bridge loan fund, venturing back into the junk-bond-related business that led to big losses for investment banks several years ago.
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