Today's News

WASHINGTON A Texas shoot-out is flaring over plans that could put state-chartered credit unions there under the same regulator as banks. Page 2 Lenders and consumer groups are asking for regulatory and legislative changes to simplify disclosure requirements on mortgage lenders. Page 2 REGIONAL BANKING A former First Interstate executive has taken on one of the most precarious jobs in the thrift business: CEO of Downey Financial. Page 6 COMMUNITY BANKING FOR TWO YEARS West Coast Bancorp of Oregon had two presidents; now it has only one. Page 8 Pennsylvania's expansion-minded Susquehanna Bancshares would move into the Philadelphia suburbs for the first time with the latest deal to add to its growing tribe of banks. Page 8 CORPORATE FINANCE Smith Barney raided National Westminster for an executive to help build its acquisition finance business. "We want to leverage the loan product in conjunction with high yield, as opposed to looking at loans as a product in and of itself," says Glenn Marchak, who will be a managing director. Page 21 Bankers and institutional investors starved for high-yielding leveraged loans will have a new $650 million credit to sink their teeth into next month. Page 21 INVESTMENT PRODUCTS Barnett has been accused again of deceptive sales practices at its brokerages. Page 9 The Fed is expected to propose formal "know-your-customer" regulations this spring, for the first time, to help keep money laundering out of private banks. Page 9 Wells Fargo set up a stand--one investment boutique for institutional clients. Page 9 MORTGAGES PNC Mortgage is looking beyond technology as a way of building business; it's counting on its sales force for fresh energy. Page 10 Appraisals can now be ordered and delivered electronically over Freddie's Goldworks network. Page 11 CREDIT/DEBIT/ATMs Hypercom, the No. 2 terminal manufacturer, will market a smart card that it says will successfully and economically combat credit card fraud. Page 12 National City subsidiary NPC Inc. extended and expanded a long-term merchant processing arrangement with the Visa association. Page 13 MARKET MONITOR Purchase accounting is now the favored method for acquiring banks. Back page