Today's News

REGIONAL BANKING

International trust executives will convene in Amsterdam in November to discuss a training program for maintaining professional standards as the field expands. Page 4

Community organizations are challenging First Union's agreement to buy Signet Banking. Page 4

COMMUNITY BANKING

Months after the Red River flood destroyed homes and businesses in North Dakota and Minnesota, community bankers are teaming up to help displaced homeowners. Page 6

A Virginia banker has been ordered by the government to stop lending money-his own-to customers that his bank turned down for loans. Page 6

INVESTMENT PRODUCTS

Fidelity's executive vice president in charge of bank services offers advice on developing the right fund mix for wealthy clients. Page 10

WASHINGTON

Treasury Under Secretary John D. Hawke Jr. slammed the House Commerce Committee's version of the financial modernization bill, saying it would hamper banks in competing with other financial companies. "This is a very bad approach to legislation," he said. Page 3

CORPORATE FINANCE

Continuing its push into REIT financing, J.P. Morgan is leading a $1.5 billion short-term loan for real estate giant Sam Zell. Page 7

Bankers are looking to loan portfolio management techniques like syndications to reduce losses and mitigate their effect on earnings. Page 7

MORTGAGES

Money Store is rejiggering its subprime auto finance division in the wake of rising delinquencies and chargeoffs. Page 8

Fannie Mae and other mortgage companies are trying to boost the appeal of reverse mortgages by linking them to other financial products, such as annuities. Page 9

CREDIT/DEBIT/ATMs

Mastercard and Visa have stepped up efforts to educate consumers about debit cards, in response to the increasing demand and a publicity blitz about potential misuse. Page 11

MARKET MONITOR

Transamerica agreed to purchase Whirlpool Financial, an arm of the nation's largest appliance manufacturer. Back page

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