Today's News

January 26, 1996, 2:00 a.m. EST 1 Min Read

MORTGAGES:

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.

Page 15

WASHINGTON:

PRESIDENT CLINTON urged Congress to pass stand-alone legislation limiting lender liability for hazardous chemical cleanups.

Page 2

POLITICAL BICKERING among members of the Federal Home Loan Bank board has blocked the appointment of 24 regional chairmen and directors.

Page 3

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.

Page 6

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.

Page 6

INVESTMENT PRODUCTS:

AMCORE FINANCIAL's bet in making its proprietary mutual funds no-load seems to be paying off for the Illinois bank.

Page 8

TOP EXECUTIVES from the fund firm Alliance Capital hit the bricks on an unusual monthlong, 30-city tour to tout their stock funds.

Page 8

CREDIT/DEBIT/ATMs:

STRONG EARNINGS at the four major card banks seemed to alleviate fears of rising consumer delinquencies and restrained consumer card spending.

Page 9

A GEORGIA BANK and Block Financial have launched WebCard, a cobranded Visa being marketed to Internet users and subscribers of on-line services.

Page 9

TECHNOLOGY:

LOAN-BY-PHONE software will be offered by a partnership between Bisys Group and an Atlanta-based software developer.

Page 12

PNC AND ROYAL BANK of Scotland have formed an electronic payments processing alliance that gives each access to the other's clearing systems

Page 12

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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