WASHINGTON
The banking industry is applauding a GOP plan to extend nearly $4 billion in emergency aid to farmers hit by poor weather and falling crop prices. Page 2
REGIONAL
As concerns about asset quality mount, Lee B. Murphey says that now is the perfect time to be chairman of Robert Morris Associates. Page 4
INVESTMENT PRODUCTS
A proposal to give Canadian banks the power to sell insurance through branches is meeting resistance from insurance brokers and underwriters. Page 6
Chase, seeking to drum up interest in its 10 new no-load mutual funds, will target 300,000 of its credit card customers with a direct mail campaign this fall. Page 6
COMMUNITY
A Baltimore banker hopes to revive the city's professional soccer franchise with a little help from his bank. Page 15
CORPORATE FINANCE
CIBC Oppenheimer named a chief for the European high-yield business at CIBC World Markets. Page 16
CARDS
First Data promoted Charles T. Fote to president and chief operating officer. The leading bank card processor also lowered earnings estimates and announced a $500 million stock buyback. The company has seen its share price decline as it digests several acquisitions and adjusts to industry consolidation. Page 13
Sponsors and planners came away from the ABA's annual bank card conference with reason to speculate: What if they held this conference and nobody came? Page 8
MORTGAGES
The currency and economic crises of the past year have done little to cool the industry's interest in international expansion, officials said at the Mortgage Bankers Association meeting in Hawaii. Page 17
Southern Pacific Funding, on the block for months, is unlikely to find a buyer and could be forced into bankruptcy, analysts say. Page 18
TECHNOLOGY
Checkfree should be able to take its latest challenge in stride, analysts say. Its big rival in electronic billpresentment, led by Microsoft and First Data, got a boost last week when Citicorp joined up. Page 20
MARKET MONITOR
Half the economists questioned in the latest American Banker yield and rate survey said they think the Fed's target for federal funds, the overnight lending rate, will remain 5.5% until yearend. Page 29
