Today's News

WASHINGTON

Banks spent more than $337 million in the early 1990s for initial compliance with the Truth-in-Savings Act, a Federal Reserve Board study found. Page 4

REGIONAL BANKING

Chief executives' Jan. 1 holdings in 14 top banking companies had appreciated 42% by the end of September, to $49.2 million, a study found. Page 6

For the second year in a row Chase Manhattan is the top correspondent banker in the United States, but it lost some ground to BankAmerica and Wells Fargo. Page 7

COMMUNITY BANKING

Oregon's community banks are enjoying a banner 1997, thanks to a bustling state economy and the continued fallout from two mammoth bank mergers. Page 11

INVESTMENT PRODUCTS

INSURANCE: Summit Bancorp of Princeton, N.J., is stepping up its efforts in the employee benefits business by buying two privately held employee health benefit companies, Corporate Dynamics and Philadelphia Benefits. Jack Cussen said the deal "provides a level of expertise that we don't have." Page 12

Just as banks are looking to get a firmer toehold in the insurance market, so is the ubiquitous Charles Schwab & Co. Page 12

MORTGAGES

Characters on "The Simpsons," the animated Fox television program, sang about Fannie Mae on a recent episode. But in their enthusiasm, the misfits exaggerated the agency's powers. Page 15

CREDIT/DEBIT/ATMs

Verifone brought the Japanese computer and electronics giant NEC into its SET alliance. Page 18

First Data hired a prominent electronic banking consultant from Speer & Associates as executive vice president of its card services group. Page 18

TECHNOLOGY

Less than two months after opening for business, Valicert announced global field trials for its digital certificate validation service. Page 19

New products and alliances between companies to leverage the capabilities of old products were the common currency of the Retail Delivery '97 conference. Page 19

MARKET MONITOR

Major banks recovered ground Monday in a broad market rally, but regional banks lagged. Back page

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