Today's News

WASHINGTON The Comptroller of the currency's assertiveness paid off when White House officials retracted their position on inviting a regulator to a fund-raiser sponsored by the Democratic National Committee. Page 2 The OCC appears to be backing away from a controversial policy allowing national banks to exercise powers now available only to state-chartered institutions. Page 4 COMMUNITY BANKING Publishers appointed to serve on the boards at banks are a rarity, but some are bridging the gap between working for the fourth estate and working for banks. Page 5 INTERNATIONAL U.S. banks have headed back to South Africa and found an unusually sophisticated emerging market with an economy that resembles that of an industrialized nation. Page 8 Several U.S. banks are hoping to reap a bonanza from Mexico's move later this year to privatize pension fund management. Page 9 ANALYST ROUNDTABLE Making money on bank stocks won't be easy this year. PaineWebber analyst Lawrence W. Cohn, the newest member of the American Banker Analysts Roundtable, says the next recession will show which banks have been diligent about credit quality. "We take a more cynical view of the world - bankers never learn," he said. Page 12 INVESTMENT PRODUCTS Lipper Analytical Services' founder warned bankers to closely inspect the funds they sell for performance and nonstatistical risks. Page 10 Colonial Mutual Funds rolled out a new portfolio it is pitching to bank trust departments in an effort to make a comeback in the bank market. Page 11 CREDIT/DEBIT/ATMs PMT Services acquired yet another independent sales organization - its sixth portfolio transaction during its fiscal 1997. Page 15 TECHNOLOGY ON-LINE BANKING: As long as smart card chips can hold digital certificates, the data security community says the cards will play a central role in the growth and development of Internet commerce. Page 16 MORTGAGES PNC plans to dovetail the expansion of its mortgage company with cross- selling more products to borrowers. Page 18 Originators of subprime mortgages should watch out for high delinquency and fledgling management this year. Page 18 MARKET MONITOR A week after Wall Street gave support to Banc One's acquisition agreement with First USA, Montgomery Securities emerged with a word of caution. Back page

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER