Today's News

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WASHINGTON

With a Senate panel poised to vote next week, financial industry negotiators said they have tentatively compromised on some controversial parts of the financial reform legislation. Page 2

MORTGAGES

HOME EQUITY: Politicians and trade groups are criticizing a recent court ruling that they say could open the floodgates for class actions in the mortgage industry. Page 5

COMMUNITY

States dominated by community banks rank poorly on a list regulators will use to evaluate whether out-of-state branches are meeting meet local credit needs. Economists said limited funding options put small banks at a disadvantage. Page 6

REGIONAL

MBNA chairman Alfred Lerner seemed a villain to Cleveland Browns fans two years ago, when the team left town; in fact, they cut up their MBNA cards. Mr. Lerner, a part owner of the team then, is now the leading contender for the Cleveland's NFL expansion franchise. Page 7

In preparation for its proposed $70 billion merger with Travelers Group, Citicorp has been slashing jobs in its corporate bank. Page 7

DIGITAL FRONTIERS

SMART CARDS: The Global Chipcard Alliance has bolstered its claim on smart card industry leadership with a new technical initiative and the addition of its 28th member company. Page 11

Schlumberger said it has begun taking orders for expanded-memory smart cards that comply with the Java Card 2.0 standard. Page 11

CARDS

Visa U.S.A. is kicking off its fall advertising season with television commercials starring famous athletes - and a supermodel. Page 12

Chase Merchant Services, Chase Manhattan's merchant processing joint venture with First Data, has won additional business from Marriott. Page 12

TECHNOLOGY

Oracle, the giant data base software company, has agreed to buy financially troubled call-center-systems vendor Versatility for $12 million in cash. Page 13

After a two-year effort, Fleet Financial Group has gone live with an enterprise data warehouse powered by Informix. Page 13

CORPORATE FINANCE Page 21

MARKETS

Summit Bancorp inked its second acquisition deal in Connecticut, a $45.1 million agreement to buy New Canaan Bank and Trust. Back page

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