Today's News

WASHINGTON

The SBA has approved a rule that will make it easier for banks to securitize the non-guaranteed portion of 7a loans. Page 2

The raucous debate about the proposed know-your-customer rule has kicked up a storm over the suspicious-activity reporting system. Page 4

REGIONAL

San Francisco's governing body is expected to move closer today to banning automated teller machine surcharges. Page 6

COMMUNITY

Despite winning a partial reversal of a CRA downgrade, an Illinois bank may have trouble opening a branch it is building in the suburbs. Page 7

More than 10 years after starting one of the nation's first branchless banks, a New Jersey executive is trying to form a more traditional institution. Page 7

TECHNOLOGY

A growing number of banks are moving some electronic bill payment operations in-house. Page 18

INVESTMENT PRODUCTS

Bank-owned brokers are stepping up efforts to limit their exposure to investor lawsuits linked to volatility in Internet stocks. "People are really second-guessing us," said Curt Anderson, the president of the brokerage unit at First Busey Corp. of Illinois. Page 8

KeyCorp has reorganized its Key Asset Management investment unit by client segment to streamline customer relationships. Page 8

MORTGAGES

HOME EQUITY: A Donaldson, Lufkin & Jenrette analyst says that the major consumer finance companies will benefit from the meltdown among subprime specialists. Page 10

DIGITAL FRONTIERS

SMART CARDS: IBM is aiming to settle questions about smart card security once and for all in a collaboration with Philips Semiconductors. Page 12

CARDS

NationsBanc Montgomery Securities, BankAmerica's securities subsidiary, hired two executives from Morgan Stanley Dean Witter for its health-care investment banking group. Page 13

CORPORATE FINANCE

NationsBanc Montgomery Securities, BankAmerica's securities subsidiary, said it made two senior appointments to its health-care investment banking group. Page 28

MARKETS

Shares of BankAmerica should rank alongside those of IBM and Merck as a prime holding in stock portfolios, an analyst contends. Back page

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