WASHINGTON
Bankers are telling the Office of Foreign Asset Control, an arm of the Treasury Department that ensures financial institutions don't do business with pariah countries, that what you don't know can hurt you. Page 2
A U.S. district judge clarified his ruling on restricting occupation- based credit unions from adding new customers who lack a common bond with the institutions' core membership. Page 2
Fannie Mae's chairman contributed $20,000 to 29 members of Congress during the current two-year election cycle. Page 3
REGIONAL BANKING
First Citizens Bancshares, a $7.7 billion-asset bank based in Raleigh, N.C., reported earnings of $12.4 million in the third quarter - a 21.5% drop from the same period last year due to refinancing the thrift fund. Page 4
COMMUNITY BANKING
Taking advantage of a change in federal tax law, Patriot Bank is seeking to become the first Pennsylvania thrift to convert to a state-chartered commercial bank. Page 6
Seeking to strengthen its position in eastern Ohio, Park National announced its intent to acquire First-Knox Banc in Mount Vernon for $111.9 million in stock. Page 6
INVESTMENT PRODUCTS
Donaldson, Lufkin & Jenrette's 300 brokers are marketing a "turnkey" version of a sophisticated trust product to their affluent clients. Page 7
MORTGAGES
Citing evidence of abuse, HUD has temporarily stopped making a popular type of rehabilitation loan to investors. Page 8
Capstead Mortgage, a major servicer of home loans in Dallas, is now trying its hand as a subservicer. Page 8
CREDIT/DEBIT/ATMs
Merchants that accept credit cards the old-fashioned way are still a lucrative source of business for transaction processors. Known as paper- based merchants because they adhere to the old practice of running paper sales drafts through imprinters, they may seem akin to neglected stepchildren. But they are valuable to processing companies because they pay higher fees. Page 10
Community bankers at the Independent Bankers Association of America conference in St. Louis were urged to develop existing card products while maintaining their special strength - customer service. Page 10
TECHNOLOGY
Lucent Technologies will provide a telephone voice-response system for remote banking and bill payments to financial institutions served by Visa Interactive. Page 14
FINANCE
Chase Manhattan and Bankers Trust New York sold $400 million in high- yield bonds for International Home Foods. Back page