WASHINGTON

Banking industry officials vowed to renew their push for tax relief in the new Congress. Page 2

President Clinton announced plans to nominate former House Banking Committee lawyer Armando Falcon Jr. as director of the Office of Federal Housing Enterprise Oversight. Page 2

Record numbers of national bank examiners are receiving professional designations, which the OCC credits for its lowest turnover rate in years. Page 4

COMMUNITY

Small banks are paying more attention to efficiency ratios. Page 7

INVESTMENT PRODUCTS

SOME large insurance companies plan to sell more through banks and other nontraditional outlets. But New York Life won't join them anytime soon. Page 8

MORTGAGES

Several major mortgage lenders were unprepared to take a year-2000 compliance test, Freddie Mac's recent dry run showed. Page 10

REGIONAL

BankAmerica named Kathleen Brown, a onetime California political luminary, as co-head of its private bank. Ms. Brown, appointed president of the private bank west, is responsible for private banking in California, the Pacific Northwest, as well as internationally. Page 5

CARDS

MasterCard International's senior vice president of chip technology is leaving to join the smart card upstart Publicard. Page 13

Hypercom hired point of sale industry veteran Roger Hitchcock to be vice president and general manager of a major division. Page 13

TECHNOLOGY

Acxiom bought three data base marketing software business units from Deluxe Corp. to expand its presence in retail banking. Page 14

Billserv.com, a new entrant in the emerging bill payment and presentment business, raised $4.1 million from eight private investors. Page 14

MARKET MONITOR

The dynamic economy seems to be moving in two opposite directions. And at some point, something has to give, economists warn. Page 24

Banks may ride on the coattails of red-hot technology stocks as the year unfolds, an analyst says. Page 24

Analysts have been telling clients to invest in regional banks' debt and steer clear of multinational banks' paper, but investors are still enthralled by the bigger banks. Back page

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