Today's News

WASHINGTON

House Banking Committee Chairman Jim Leach plans to fight if the Clinton administration pushes to let banking and commercial firms own each other. Page 2

After anteing up $2.1 billion to replenish its deposit insurance fund on Sept. 30, the thrift industry posted its first quarterly loss since 1990, the government announced. Page 3

REGIONAL BANKING

KeyCorp began to lay the foundation for its massive restructuring this week, announcing plans to close 22 branches - and eliminate 100 jobs - in Washington and Oregon. Page 4

Taking the plunge into California's lucrative student loan business, Crestar Financial agreed to purchase a $370 million student loan portfolio from Great Western Financial. Page 5

COMMUNITY BANKING

A New Jersey investment partnership is seeking to increase its sizable stake in a Southern California thrift in a bid to force the company to consider a sale. Page 7

MORTGAGES

Crestar Mortgage has become the first lender to use Freddie Mac technology to make Department of Veterans Affairs loans. Page 8

The chairman of Advanced Financial, a residential mortgage lender in Kansas, is resigning. Page 8

INVESTMENT PRODUCTS

The third quarter's stock market volatility took its toll in terms of market share on mutual fund companies that didn't offer equity portfolios already well-established in the brokerage community, a new study shows. Page 12

Rebel snowboarder Slice is no private banker. But he is striving to be the trusted financial adviser to thousands of young investors on Liberty Financial's new Web site. Page 13

CREDIT/DEBIT/ATMs

NYCE announced an agreement to deliver remote banking services for Marine Midland Banks, one of its seven equity owners. Page 14

Metris made a five-year deal to provide card registration services for Household International. Page 14

TECHNOLOGY

ON-LINE BANKING: To bolster public confidence in on-line commerce, two associations joined forces to establish the Internet equivalent of the Good Housekeeping seal of approval. Page 16

KeyCorp chairman and chief executive officer Robert W. Gillespie delivered the keynote address at the annual Bank Administration Institute's Retail Delivery conference. Eschewing the word "bank," he challenged other bankers to diversify and break away from a business model better suited for the 1950s than the 1990s. Page 18

MARKET MONITOR

J.P. Morgan was one of very few banks to gain in early stock market trading Wednesday, after providing an overview of its European operation and fixed-income business to analysts. Back page

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