Today's News

WASHINGTON

Despite a flurry of tax relief proposals for banks, lobbyists say waning interest among lawmakers will make a hard sell even tougher this year. Page 2

The OTS has ruled that a California consumer protection law does not apply to federal thrifts. Page 3

COMMUNITY/REGIONAL

Low commodity prices are taking a toll on midwestern farmers. Page 8

MORTGAGES

The brokerage unit of Fidelity Investments has joined with GMAC Mortgage to let borrowers secure the down payment portion of their loans without liquidating their investments. Page 9

INVESTMENT PRODUCTS

Another Putnam executive has jumped to Liberty Financial. Page 10

KeyCorp of Cleveland has merged its mutual funds with those of McDonald Investments, a regional brokerage it bought last year. Page 11

NATIONAL/GLOBAL

U.S. Bancorp was ap- plauded by analysts for its big Defense Department freight payments processing pact. Though it is an unusual business for a bank, vice chairman Philip Heasley says he expects his company to be a leader in the field because of its technological expertise. Page 6

Lenders expect stronger loan growth, easier credit, and flat or decreasing loan prices during the next six months, according to a survey. Page 6

CARDS

Europay reported that its cardholders are conducting euro-based transactions primarily at toll booths, over the Net, and through mail and phone orders. Page 12

DIGITAL FRONTIERS

Bank of Montreal and its Harris Bank unit are in talks to supply services to an alliance that plans to let businesses bid for office supplies on-line. Page 14

TECHNOLOGY

First Union signed a 10-year service agreement with Wang Global valued at $220 million. Page 15

MARKETS

A Schroder analyst rode the roiling market like a champion surfer: His downgrades came just before the market fell, and his upgrades just before it began to recover. Page 26

The Wachovia story is being misunderstood by investors, a Donaldson Lufkin analyst said. Back page

Shares of Hibernia plunged on investor concerns about possible credit- quality problems. Back page

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