WASHINGTON
All Federal Home Loan bank borrowers will have to document their support of first-time homebuyers under a rule to be proposed by the Federal Housing Finance Board Thursday. Page 2
Alice M. Rivlin has charged head-first into the role of vice chairman of the Federal Reserve Board. In her first four months, the former OMB director has emerged as the Fed's liaison with international banking groups and has grabbed the reins as the central bank's chief administrator. "This is a very interesting, challenging job," she said. Page 4
COMMUNITY BANKING
A group that was ousted last year in a proxy battle at Maryland's Bank of Glen Burnie is organizing a new bank to compete with its former employer. Page 8
INVESTMENT PRODUCTS
INSURANCE: American Savings of Stockton, Calif., a thrift that has aggressively sold mutual funds and annuities, is now beefing up its insurance program. Page 14
Bank of Boston is building a private banking presence that targets the wealthy around the edges of New York City. Page 15
MORTGAGES
HUD's inspector general is investigating wide-ranging allegations of wrongdoing in the agency's multibillion-dollar sale of mortgages. Page 16
Lau Capital Funding of Los Angeles will be providing warehouse lines of credit directly to mortgage brokers. Page 16
CREDIT/DEBIT/ATMs
MasterCard may be getting ready to give its brand image a makeover with the hiring of a L'Oreal executive as vice president of U.S. advertising. Page 17
Advanta, the nation's eighth-largest credit card issuer, has hired the former chief executive of Sony Interactive to run its new unit Advanta Information Systems. Page 17
TECHNOLOGY
The U.S. Council on International Banking, the Institute of International Banking Law and Practice, and Citicorp have formed an arbitration firm to offer alternatives to costly trade-finance court disputes. Page 18
Compaq Computer faces formidable challenges in trying to convince more banks to buy its line of extra-powerful PCs, experts say. Page 18
FINANCE
First Union told analysts that it expects no growth in its credit card business next year. And analysts say the bank will cut solicitations to potential credit card customers. Page 22
Blazing a trail U.S. banks will follow next year, ABN Amro issued $500 million of securities designed to meet new capital requirements for derivatives risk at its North American unit. Back page
