ROOSEVELT Financial Group, the St. Louis-based thrift, wants to look more like a commercial bank. Its consumer banking strategy is showing early signs of success, says chief executive Stanley Bradshaw. Pullout section
WASHINGTON:
THE BANKING industry got most of what it wanted as the Internal Revenue Service clarified when creditors must report debt-discharges. Page 2
FED VICE CHAIRMAN Alan Blinder, fast becoming an authority on consumer issues, has been winning praise all around as a sensitive regulator. Page 3
COMMUNITY BANKING:
OREGON's Security Bank Holding Co. plans to invest up to $2 million in a start-up bank 100 miles to the north - with the potential of gaining control in five years. Page 5
WHILE SMALL AG BANKS are putting more money into farm mortgages, they are increasingly diversifying their portfolios away from the niche. Page 5
CREDIT UNIONS:
NCUA CHAIRMAN Norman E. D'Amours said he believes his standing with the White House and the industry will weather recent disclosures that he was arrested and charged with domestic assault last fall. Page 10
MORTGAGES:
FANNIE MAE is setting tough standards for the scores of lenders that will begin using its reverse mortgage program this month. Page 12
INVESTMENT PRODUCTS:
NORWEST CORP. has introduced a mutual fund wrap account in a bid to attract a larger and steadier stream of fee income for its investment units. Page 16
CREDIT/DEBIT/ATMs:
AMERICAN EXPRESS and Delta Air Lines have lofty ambitions for their Delta SkyMiles Optima card, despite a late takeoff in the cobranding race. Page 18
TECHNOLOGY:
APPLIED TECHNOLOGY, a venture capital firm, has invested about $850,000 in a software company that plans to help banks and others distribute investment products over the Internet. Page 15
REGIONAL BANKING:
EUROPEAN AMERICAN Bank's second major move into the leasing business in recent months "further expands EAB's leasing operations both geographically and into new industry segments," said CEO Edward Travaglianti. Page 7
SHARPENING its supervision of international financial activities, the Federal Reserve Bank of New York has named Terrence Checki to the newly created position of executive vice president in charge of emerging markets. Page 6
