Today's News

WASHINGTON

Fannie Mae's complaints about a recently proposed risk-based capital rule are misguided, the agency's top regulator said. Page 2

NATIONAL/GLOBAL

Summit Bancorp's decision to roll back charges on some of its most popular consumer accounts is not winning fans on Wall Street. Page 3

Bankers Trust is spinning off another overseas unit in advance of its planned merger with Deutsche Bank in June. Page 5

COMMUNITY/REGIONAL

Commercial Savings of Iowa lost its long-running fight to force a huge competitor to use another name. Page 6

MORTGAGES

The role of loan doctors, which ease investor and issuer concern, is expanding in the subprime mortgage securitization business, a Moody's report said. Page 8

TECHNOLOGY

Sun Microsystems and America Online say they will ship their first jointly developed products for electronic commerce early next year. The Sun-Netscape Alliance aims to "dot.com the world," says Sun executive Mark Tolliver, who was named its president and general manager. Page 12

A leader of Morgan Stanley Dean Witter's year-2000 effort said minor glitches would pervade computer programs during the millennium weekend. Page 12

INVESTMENT PRODUCTS

J.P. Morgan and Dai-Ichi Kangyo Bank set up a joint venture company to sell investment products in Japan. Page 11

DIGITAL FRONTIERS

ON-LINE BANKING: In a bet that more personalized services will boost its Internet banking profits, First Union National Bank announced it will install software from Vignette. Page 13

Factors such as age, race, and profession can affect the accuracy of biometric identification systems, a study found. Page 13

CARDS

National Data, the payment processor, is combining two business lines into one that will place a greater emphasis on electronic commerce. Page 14

MARKETS

SunTrust's shares lagged the market and other bank stocks as investors fretted over the company's first-quarter earnings. Back page