Today's News

May 18, 1999, 1:00 a.m. EDT 1 Min Read

WASHINGTON

Efforts to reform Home Loan bank investment policies are running into opposition. Page 2

NATIONAL/GLOBAL

GE Capital said it would buy an $11 billion loan portfolio from Long- Term Credit Bank of Japan. Page 7

As banks, insurers, and securities firms merge, a few schools are offering degrees in financial services. Page 8

COMMUNITY/REGIONAL

South Shore of Chicago is unveiling a $20 million loan program today aimed at local churches. Page 10

INVESTMENT PRODUCTS

INSURANCE: After getting off to a slow start in life insurance sales, BancorpSouth is expanding into the more lucrative property/casualty insurance business. Page 12

Dedicated insurance agents at banks are not producing hefty revenues for banks or themselves. Page 13

GLOBAL MUTUAL FUNDS

Instead of locking Alliance Capital into a single joint venture in Japan, Jon Groom has engineered many distribution arrangements there for the company's mutual funds. An annual American Banker supplement examines United States fund companies' prospects abroad, their strategies, and the factors shaping them. Pullout section

MORTGAGES

Sanwa Bank is scheduled to close Japan's first securitization of mortgage loans by month's end. Page 15

Consolidation of mortgage servicing continues as Mellon evaluates bids for its mortgage unit and sources report that BankAtlantic has sold its servicing portfolio. Page 16

CARDS

A trade group for small banks may play an important role for the defense in the Justice Department's lawsuit against Visa and MasterCard. Page 17

An Oregon subprime lender has joined the growing ranks of card companies buying charged-off credit card debt. Page 18

DIGITAL FRONTIERS

Bank of Montreal finds volunteers eager to test banking via mobile phones. Page 20

TECHNOLOGY

Hewlett-Packard said it is committing $35 million toward system development projects with BroadVision, a leader in software for Internet business. Page 21

MARKETS

Investors continued their flight from bank stocks, worried that a Federal Reserve hike in interest rates may be imminent. Back page

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