Today's News

WASHINGTON

The FDIC made it easier for state-chartered banks to enter alternative lines of business. Page 2

COMMUNITY

wild fluctuations in the stock market could be both a curse and a blessing for thrifts undergoing mutual-to-stock conversions. Page 4

America's Community Bankers will try to attract more commercial bank members as part of a new strategy. Page 4

REGIONAL Page 5

INVESTMENT PRODUCTS

The Department of Labor may require 401(k) plan providers to give their clients detailed, uniform fee disclosures, a senior official said. Page 6

Bank One has expanded its relationship with Bisys Fund Services in a step toward combining its two mutual fund businesses this spring. Page 6

CARDS

Metris Cos. has been taking some financial lumps, but its CEO has lost no enthusiasm about the longer term. "We reported record earnings in the third quarter," says Ronald N. Zebeck, who also is president of the Minnesota spinoff of Fingerhut. "The fundamentals of the business are solid." Page 11

Security and loyalty were recurring themes in the heavy flow of product announcements from Cartes '98, the annual smart card trade show in Paris. Page 10

MORTGAGES

Asian investors have flocked to Fannie Mae's noncallable debt offerings in recent weeks, driven by low interest rates in Asia and the newfound affordability of dollar-denominated bonds. Page 8

Alltel has developed a new line of software designed to save lenders time and money in handling severely delinquent loans. Page 8

TECHNOLOGY

Princeton Telecom said it has taken its electronic bill presentment strategy a major step forward by signing an agreement with Intuit to deliver bills to users of Quicken. Page 12

MARKETS

Troubled Capstead Mortgage, a Dallas-based real estate investment trust, is for sale, industry sources say. Page 22

The bank stock juggernaut is on track again. Or is it? Back page