Today's News

WASHINGTON Documents delivered to Capitol Hill last week include nothing that will harm Comptroller of the Currency Eugene A. Ludwig's career. Page 2 REGIONAL BANKING Three major Swiss banks accused of hiding funds that belong to Holocaust victims are mired in a public relations nightmare that threatens the business dealings of their U.S. subsidiaries. Page 5 INVESTMENT PRODUCTS Is the buyer of a global mutual fund responsible for how the companies in that fund treat their employees and the environment? Harper's magazine gathered a panel of industry experts to debate the question. Page 7 COMMUNITY BANKING Maine bankers are caught between environmentalists and the business community in a struggle over the state's multibillion-dollar timber industry. Page 9 SMALL BUSINESS A growing number of entrepreneurs are turning to leasing companies to finance their businesses, often at the expense of banks. Page 11 Marine Midland's Peter Boland is more likely to spend his time dining on rice pilafs with Indian entrepreneurs than attending chamber of commerce dinners. As a senior vice president in charge of trade finance at the Buffalo-based bank, he is working to build relations with small-business owners from the subcontinent. Page 10 MORTGAGES Norwest Mortgage was the unchallenged leader in loan securitizations through Fannie Mae, Freddie Mac, and Ginnie Mae last year. Page 12 By some accounts, 1997 will be a year of large-thrift takeovers in California. But a lingering legacy of the S&L debacle threatens to gum up the works. Page 13 TECHNOLOGY Bank technology stocks staged a slight comeback following a selloff early last week. Page 18 The founder of Tandem Computers returned to his entrepreneurial roots, accepting the chairmanship at a start-up specializing in data transfer software. Page 20 CORPORATE FINANCE Paxson Communications has made more than $80 million worth of acquisitions so far this year. Its chief financial officer, Arthur D. Tek, discusses his banking relationships and long-term views. Page 24 MARKET MONITOR More bank analysts are entering the money management sector and finding lucrative opportunities to deploy their research talents. Page 25 The Fed hasn't made a sharp rate hike because the economy is too vulnerable, economists say. Page 25 THE MERCURY MESS A possible buyer may be emerging for beleaguered Mercury Finance. Back page