The OCC's chief of staff will be leaving the agency Aug. 14 to join his old boss Eugene A. Ludwig at Bankers Trust. Page 3


Merger partners Norwest Corp. and Wells Fargo & Co. have taken divergent paths in the small-business lending market. Page 4

New Mexico's bank regulator says he probably will not block a plan by BOK Financial of Oklahoma to enter his state. Page 4


C. Todd Conover, a former comptroller of the currency, has launched Starmont Asset Management, a San Francisco investment advisory firm. Page 6


The Texas bank commissioner is warning that the prolonged drought will lead to loan losses for many banks that lend to farmers but the situation could have been even worse. Page 8


Last week's gyrat-ing stock market sent the junk market into a tailspin. New high-yield issuance plummeted 79% from the week before. Steven Rattner of Donaldson Lufkin says, "Investors are paying much more attention to a company's credit rating, looking for long track records and a stable cash flow." Back page


Banc One's nationwide automated teller machine ambitions hit a legal wall in Iowa. Page 9

The president and CEO of Verifone has reorganized her management team in a way that distributes the company's weight in both hardware and software directions. Page 10


economists discuss whether a stock market correction-which many believe is under way-will put a brake on the runaway housing market. Page 12


First Data's foray into Asia has resulted in a $121 million second- quarter charge. Page 30

A newly created position at Wachovia has put a 22-year bank veteran in a payments hot seat. Page 31


Beleaguered thrift stocks could get a lift as more investors begin buying the shares at comparative bargain prices. Stories and tables begin on page 13

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