Today's News

LEVEL-LOAD SHARES seem to be catching on more quickly at brokerages and independent financial planning firms than at banks. Page 14

WASHINGTON

NEW YORK STATE is proposing to ban some unconscionable lending practices, such as charging super-high rates to borrowers in default. Page 2

BANK OF AMERICA ran afoul of Senate Banking Chairman Phil Gramm by issuing a press release praising a group that has been attacking him. Page 3

NATIONAL/GLOBAL

TO CLEAR THE WAY for a Chicago purchase, Charter One of Cleveland agreed to lend $9 million in poor Chicago-area neighborhoods over three years. Page 4

A DATA SECURITY company has sued Zions Bancorp., claiming that the Salt Lake City company misused information it obtained from a loan application. Page 5

COMMUNITY/REGIONAL

THIRD FEDERAL Savings of Cleveland, the largest mutual thrift, will open its first Florida branches this fall. Some experts say the move comes too late. Page 7

A SHAREHOLDER SUIT accuses officers and directors of $1.5 billion-asset Jefferson Savings Bancorp in Ballwin, Mo., of falsely pumping up its stock. Page 7

CARDS

WACHOVIA will add banking functions to campus ID cards at the University of North Carolina. Page 8

TECHNOLOGY

A NEW DEAL may revive Affinity Technology, a pioneer of quick-decision consumer loan kiosks. Page 12

ON-LINE BANKING

WELLS FARGO's chief executive officer says the company has no plan to follow Bank One's lead in setting up an Internet-only bank. Page 13

MORTGAGES

MORTGAGE.COM got a chilly reception when it went public last week. Its IPO raised only half the hoped-for $112 million. Page 16

MARKET MONITOR

BANK STOCKS SOARED on news of an unexpectedly small rise in producer prices, which reduced the likelihood of a Fed rate hike this month. Page 30