Today's News

WASHINGTON

AN FBI REPORT found that Friday between 9 and 11 a.m. was the most popular time for bank robberies in 1997. Page 2

The race is on for a successor to the Federal Deposit Insurance Corp.'s supervision director, who will retire this month. Page 2

INVESTMENT PRODUCTS

Exotic getaways and other sales incentives are flying away with the new year at brokerages. The NASD is banning rewards for selling a particular product or brand. Page 8

The head of the newly merged brokerage operations of California Federal Bank and Glendale Federal Bank is looking to increase overall sales by a third next year. Page 10

TECHNOLOGY

Analysts say Transaction Systems Architects, which has gone largely ignored in the recent scramble for Internet and electronic commerce stocks, is a sleeper for next year. Page 12

COMMUNITY

KANSAS could be without a banking commissioner for months while lawmakers reconsider the state's policy of appointing full-time bankers as top regulators. Commissioner W. Newton Male, Kansas' top regulator for seven years while chairman of Prairie State Bank, resigned last week. Page 22

Though Congress loosened membership restrictions, some California federal credit unions are pinning hopes for growth on the state charter. Page 22

CARDS

Identity fraud is growing, despite a slew of new laws aimed at stopping it. Page 18

MORTGAGES

New-home sales volume and repeat sale prices continue to rise because of the strong economy, rebounding stock market, and continued low mortgage rates. Page 19

CORPORATE FINANCE

NationsBanc Montgomery Securities has reshuffled its equities team. Page 31

MARKET MONITOR

Economists agree that 1999 will not be as good as this year for business and banking, but that is where agreement ends. Page 32

Amid the hoopla over bank mergers, consider this statistic: If you invest in a bank that buys other companies, its stock price will likely underperform, Mitchell Madison Group found. Page 32

The simultaneous rate cut by 11 European nations last week could boost U.S. bank shares in the weeks ahead. Page 39

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