The Supreme Court has rejected three appeals involving financial services companies. Page 2

Economic crises like the one affecting Asia could be mitigated if a big lender stepped in and provided unlimited liquidity, a Chicago Fed study says. Page 2


Heavy debts have left households making $25,000 to $45,000 a year particularly vulnerable if a recession occurs, an economist warns. Page 6



High-risk retailers are the bread and butter of the independent sales organization Cardservice International. Page 8


The early excitement about the creation of Citigroup has given way to anxiety over benefits cuts and job security among Citicorp employees. Page 3

THE DAY AFTER Visa was sued by the Justice Department, Visa U.S.A. president Carl Pascarella could hardly contain his frustration about the antitrust accusations. At American Express, by contrast, top executives were buoyant about the possibility of an outcome favoring their bank marketing objectives. Page 4


New Era of Networks said that its software for enterprise application integration has been incorporated in Depository Trust's DTC TradeSuite product line. Page 9


Allstate Insurance is forming a division that will sell variable annuities through financial intermediaries. It has snared the bank sales chief from OppenheimerFunds to lead the effort. Page 18

Putnam Investments expects its mutual fund sales through banks to rise about 6% this year despite the stock market's troubles and an increasing challenge from bank proprietary funds. Page 18

Mellon Private Asset Management has promoted one executive and hired another in California. Page 18


A LATE-AFTERNOON rumor about an immediate cut in interest rates caused the market to soar after the Dow Jones industrial average flirted with bear market territory. Back page

The International Monetary Fund said it may soon arrange a multibillion- dollar standby credit facility for Brazil in which U.S. and foreign commercial banks would be asked to participate. Back page

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