WASHINGTON
Rejecting a banking industry challenge, a federal judge ruled that the Farm Credit System may lend to equipment dealers and other companies that supply agriculture-related services. Page 2
Late payments on mortgages climbed only slightly in the third quarter to 4.26%, according to the Mortgage Bankers Association's quarterly survey. Page 2
CORPORATE FINANCE
Comerica will start a "financial sponsor" group by the end of the first quarter. Such teams of bankers bring prospective deals to leveraged buyout firms. Page 3
Commerce Bancorp of Cherry Hill, N.J., is forming Commerce Commercial Mortgage Banking Group to tighten the link between its commercial real estate lending and the capital markets. Page 3
COMMUNITY BANKING
Tired of losing deposits to out-of-state banks, Maryland banking officials are trying to make the state's bank charter more attractive to federal thrifts. Page 4
F&M Bancorp in Wisconsin is buying BancSecurity of Marshalltown, Iowa. Page 4
REGIONAL BANKING
Earnings jumped 44% for Rhode Island-based Citizens Financial in the fiscal year that ended Sept. 30. Page 9
CREDIT/DEBIT/ATMs
CARD FRONTIERS: MasterCard and Visa share top billing in Internet payment security standards, but their rival American Express is angling for at least part of the limelight. Page 10
The pending merger between First Union and CoreStates Financial may cause a shake-up in the merchant processing industry: Both own stakes in well-known third-party processors that are competitors. Page 13
MORTGAGES
HOME EQUITY: A referendum reversed a ban on this type of lending in Texas, but officials are still hammering out the details. Page 16
INVESTMENT PRODUCTS
With its recent agreement to acquire the United Kingdom's Mercury Asset Management, Merrill Lynch is poised to become a global powerhouse in investment management. Page 18
Bank consolidation is in full swing, but it hasn't slowed growth in the ranks of financial institutions that offer investment products. Page 18
TECHNOLOGY
The BAI's annual retail delivery conference this week in New Orleans is drawing a record crowd, and a wider range of vendors are using it as a launching pad. The trade group's executive vice president says the conference has become to banking what Comdex is to the computer industry - a mammoth, must-attend event. Page 20
MARKET MONITOR
Keefe, Bruyette & Woods promoted its president to chairman and chief executive officer, effective Jan. 1.
