REGIONAL BANKING
A Pacific Power and Light affiliate suing Barnett has upped the ante, charging that the bank laundered money for drug smugglers and an organized crime syndicate. Page 4
COMMUNITY BANKING
A pair of acquisition-minded investors has moved in on a Grand Rapids- based holding company, and Michigan may lose another of its home-grown thrifts. Page 5
INVESTMENT PRODUCTS
Turning up the heat on insurance companies trying to enter the banking business, a community group has requested a six-month moratorium on granting federal thrift charters to insurers. Page 8
Alabama-based Compass Bancshares is losing the executive who presided over a big expansion of its retail investment program. Page 8
MORTGAGES
HOME LENDING is viewed as the key to instilling a sales culture at two affiliated banks in Arizona and New Mexico. Why the big mortgage push? "If you're in the Southwest you really should be in real estate," says Jeffrey N. Walton, executive vice president for the banks' mortgage operations. Page 7
Freddie Mac is seeking an edge in the automated underwriting business by introducing software intended to improve communication among lenders, vendors, and loan buyers. Page 7
TECHNOLOGY
Tandem Computers says its CS150, the first clustered server based on Microsoft's Windows NT operating system, is selling faster than it can be manufactured. Page 12
Peerless Group promoted an executive to rev up lagging software sales. Page 12
MARKET MONITOR
Household International plans to rely less on securitization as it expands its subprime auto lending business. Page 18
Citicorp has signed a deal to acquire Mexico's Grupo Abaco Financiero for around $200 million, Mexican banking sources said. Back page
WEEKLY REPORT: INTERNATIONAL
J.P. Morgan is expanding its equity-related operations in Japan, spurred by deregulation there. Page 6
Republic New York has hired one new executive to head its Russian banking unit and another to help run the bank's new capital markets unit. Page 6
