Today's News

WASHINGTON NORMAN D'AMOURS, the chairman of the National Credit Union Administration, has fostered animosity there but has broken no laws, the GAO says. Page 2 REGIONAL BANKING Federal banking regulators are making subtle changes in their positions to protect their larger interests in the financial reform debate. Page 5 COMMUNITY BANKING New Hampshire is dominated by large out-of-state banks, but CFX Corp. is becoming a homegrown banking power. Page 8 CORPORATE FINANCE Chase Securities, building up its new mergers-and-acquisitions group, snared an M&A banker from Merrill Lynch. Page 9 WEEKLY REPORT: SMALL BUSINESS Bank of Boston set up a community development company to make investments and loans to small businesses in low- and moderate-income areas. Page 11 pleased with the results at the three small-business centers it has opened since September, American Express plans to expand by buying accounting firms in other cities. "We're trying to bring together a range of services that small-business owners need," said Mark Ernst, a senior vice president with Amex's financial advisory arm. Page 10 MORTGAGES A small Chicago thrift is transforming itself into a consumer finance company over the Net. Page 12 Home Equity loans that exceed the equity in the house really aren't subprime, their originators insist. Nonsense, critics say. Page 13 TECHNOLOGY erosion in the prices of bank technology stocks had just begun to show signs of easing when the stock market began a broad decline. Page 14 INVESTMENT PRODUCTS A start-up bank in a swank New Hampshire village has bought a local brokerage--even before opening for business. Page 20 CREDIT/DEBIT/ATMs First USA Paymentech acquired Checkfree's merchant portfolio. Page 21 MARKET MONITOR SMALLER BANKS, whose shares gained less than big ones' in the bull market, are now suffering less. Page 25 A robust employment report has investors worried again that the economy is too hot. But one economist thinks the temperature could soon drop. Page 25