Today's News

WASHINGTON

Partisan squabbling is threatening to derail legislation to reform the bankruptcy code this year. Page 2

MORTGAGES

HOME EQUITY: First Union's pending acquisition of Money Store could turn the banking company into a home equity securitization powerhouse. James Maynor, chief executive of First Union Mortgage, says the company plans to handle through its capital markets group all securitizations of Money Store home equity, student, and business loans. Page 8

COMMUNITY

Evergreen Bancorp adopted a poison pill plan, creating doubt among analysts who expected the Glens Falls, N.Y., company to announce a sale. Page 10

An Iowa thrift company said fraud by a former loan officer cost it more than $500,000, putting it in the red in the latest quarter. Page 10

INVESTMENT PRODUCTS

In a bid to expand internationally, E-Trade Group, a Palo Alto, Calif.- based on-line securities trading operation, signed licensing agreements with two German financial services firms. Page 12

Add one more feud to the battle over financial industry reform: State insurance commissioners are vigorously lobbying against the bill. Page 12

TECHNOLOGY

Bit by bit, bankers who have been suspicious of Microsoft are finding terms on which they can at least coexist with the software giant. Page 14

DIGITAL FRONTIERS

SMART CARDS: A breach in cellular telephone security is sending some shudders through the smart card community. Page 17

CARDS

Foreign markets are the next logical places for credit card issuers to find growth, several experts said at a conference last week. Page 18

Five years after landing in the United Kingdom, MBNA is still a long way from the kind of stronghold it has in the United States. Page 18

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