WASHINGTON

Defying bank and congressional critics, the National Credit Union Administration approved a new rule that will substantially expand credit union eligibility and size. Page 2

The American Council of Life Insurance issued the results of a preliminary study that touts the cost savings and competitive advantages of creating a federal regulator of insurance. Page 2

REGIONAL

Despite tighter loan margins, the top 50 regional banking companies probably will boost earnings per share this quarter by 16% from a year earlier, according to First Call. Page 3

COMMUNITY

Eager to add members, the American Bankers Association launched a drive targeting start-up banks, established thrifts, and S corporations. Page 4

First Financial Bancorp of Ohio announced that it has a deal to buy Sand Ridge Financial of Indiana for $141 million of stock. Page 4

MORTGAGES

The mortgage industry is experiencing its biggest boom ever. Will a bust follow? Most observers expect the present boom to continue, only slightly abated, for at least two more years. "This one isn't just rate-driven," says David Lereah, chief economist for the Mortgage Bankers Association. "It's economy-driven." Page 6

INVESTMENT PRODUCTS

First Union is introducing its successful CAP account, which combines banking and brokerage services, to Wheat First Union, one of its retail brokerages. Page 5

TECHNOLOGY

Transpoint said another two banks-Mellon and PNC-and 11 billers, including GTE and BellSouth, agreed to test its Internet bill delivery and payment service. Page 7

MARKETS

Bank stocks rallied on news that Chase Manhattan plans to report better- than-expected quarterly earnings and a wave of positive indicators about the economy. Back page

Republic New York, in naming a new management team, designated Dov C. Schlein to succeed chairman and CEO Walter H. Weiner. Back page

Year-2000 Expenses

Visit our Web site, www.americanbanker.com, for a listing of Y2K cost estimates from the 100 largest U.S. banking companies.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.