Today's News

REGIONAL

To celebrate its stellar second-quarter performance, Amsouth of Alabama is offering its employees an unusual bonus: 88 years of time off. Page 5

As part of a major business line reorganization, California's Imperial Bancorp has transferred its small-business lending to a new subsidiary. Page 5

COMMUNITY

The former treasurer and vice president of South Adams Savings in Massachusetts confessed to embezzling more than $1.6 million. Page 6

MORTGAGES

The secondary market for CRA loans continues to heat up, with two new deals. Page 7

CARDS

MBNA has hit a legal bump in its road into the insurance business. Page 8

WASHINGTON

Defending herself against critics, Rep. Marge Roukema denied that she mismanaged the regulatory relief legislation and endangered its chances of enactment this year. She is being slammed for supporting an amendment to the bill that would exempt 83% of banks from the Community Reinvestment Act. Page 3

President Clinton blamed lack of credit for the poverty of many Native Americans and urged financial firms to pursue lending on tribal lands. Page 2

TECHNOLOGY

BankAmerica is stepping up its customer retention effort as its complex merger with NationsBank looms. Page 10

Officials at Compaq Computer seemed unfazed by the announcement that a telecommunications company agreed to buy a main competitor. Page 11

INVESTMENT PRODUCTS

With their long-term survival at stake, third-party marketing firms are revving up on the information superhighway. Page 12

Bank brokerage customers did not make a mad dash for the exits during this week's stock market turbulence. Page 12

CORPORATE FINANCE

NationsBank said it has closed its whopping $12 billion syndication for WorldCom. Page 21

MARKETS

PNC Bank said it would pay $30 million over 20 years to put its name on the new ballpark for the Pittsburgh Pirates. Back page

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