Today's News

WASHINGTON

INTERNATIONAL cooperation against laundering is starting to pay off, a top U.S. official said. Page 4

REGIONAL

Star Banc opened what is said to be the nation's first full-service branch at a horse racing venue: Churchill Downs. Page 7

INVESTMENT PRODUCTS

Van Kampen American Capital is touting a new marketing system that it says will help investment advisers increase their business by better understanding their clients' personalities. Page 10

Fleet is launching an account that sweeps the funds of private banking clients between deposits and investment and trust accounts. Page 10

MORTGAGES

Oakland, Calif., has slipped dramatically on the Mortgage Bankers Association's Hot Mortgage Market Index. Page 14

COMMUNITY

The Federal Home Loan Bank System plans to relax its membership rules and add services to help community banks become more competitive, the system's regulator said. Bruce Morrison, chairman of the Federal Housing Finance Board, said new membership rules would be announced next month. Page 9

A plunge in Western Bancorp's stock price has cost the $2.3 billion- asset California company a deal that would have been its entree into San Diego. Page 8

CARDS

Credit card executives are divided over whether the Internet is their next best marketing vehicle. Page 15

DIGITAL FRONTIERS

SMART CARDS: Ultimus of Israel, which had been trying for two years to sell a micropayments concept based on smart cards, has been acquired by a new Dutch company called Cardis. Page 18

TECHNOLOGY

Charles Schwab said a pilot to retain affluent customers has saved it an estimated $200 million of assets it otherwise might have lost, and it is now rolling out the program nationwide. Page 21

CORPORATE FINANCE

Moody's downgraded some of Jefferson Smurfit's $7 billion of debt, casting further doubt on the viability of the packaging company that would be created by Jefferson's purchase of Stone Container. Page 29

MARKETS

After a breathtaking acquisition spree, Regions Financial is pausing to take stock-and buy back some shares. Back page

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