Today's News

WASHINGTON

Proclaiming a major breakthrough on financial services reform, bankers and insurance agents struck a compromise on rules that would govern insurance sales. Page 2

Bankruptcy law tops the banking industry's agenda for the Supreme Court term that starts next week. Page 2

REGIONAL

A new survey on customer loyalty shows that New York-area customers of Charlotte, N.C.-based First Union think more highly of their bank than customers of local heavyweights Citicorp and Chase. Page 4

COMMUNITY

Small banks in Iowa could be facing a fight with Norwest over the state's deposit cap. Page 6

With high-tech businesses sprouting up around the nation's capital to pursue federal contracts, a local start-up is pinning its hopes on a uniquely Washington line of business: government contract lending. Page 7

CORPORATE FINANCE

BankAmerica will likely nudge Chase from its perch as corporate America's leading syndicated lender. It may also chalk upgains in nontraditional banking areas such as equities and junk bonds. Edward J. Brown 3d will oversee these and other areas in the bicoastal commercial bank. Page 25

INVESTMENT PRODUCTS

The National Association of Securities Dealers plans to change the process it uses to choose panelists for its securities arbitration process. Page 8

MORTGAGES

Anticipating Tuesday's easing by the Fed, mortgage strategists and prepayment analysts on Wall Street had differing views on whether to buy or sell securities backed by residential mortgages. Page 10

DIGITAL FRONTIERS

ON-LINE BANKING: One-stop shopping for financial services may not be such a great idea after all,according to Jupiter Communications. Page 14

MARKETS

Bank stocks slipped again, culminating one of the worst quarters in memory for the sector. "It's been a very difficult quarter for banks from a stock performance standpoint," said a Tucker Anthony analyst. Back page

WEEKLY REPORT: INTERNATIONAL

J.P. Morgan plans to start commercial banking operations in Bombay by November. Page 12

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