Senate Banking Committee Chairman Phil Gramm widened his probe of federal regulators who enlisted banks to support the Community Reinvestment Act. Page 2


Bay View Capital of California received final regulatory approval to become a national bank. Page 3

BankBoston is gearing up to compete in wholesale banking against much bigger rivals, including Chase Manhattan, Citigroup Inc., and J.P. Morgan. Page 4


Wilmington Trust is using an unexpected image in television ads to sell its investment management services. Page 5


Federal regulators plan to adjust the way community bank profitability is calculated, to compensate for the lift that S corporation banks give to ratios. Page 6


Many in the mortgage industry predicted a slowdown in refinancings this year, but the latest statistics show refis on the rise. The Mortgage Bankers Association refinance index reached 1,741.7 on Wednesday, its highest level since the middle of December. Refi activity accounted for 53.4% of applications. Page 12

IMX Exchange, the on-line bidding system for mortgage brokers and lenders, secured an additional $22 million in backing from investors, bringing its war chest to $40 million. Page 12


Marketing expert William Keenan is building a little empire of credit card consulting services. Page 8

Two travel and entertainment rivals,Diners Club International and American Express,have enhanced their rewards offerings. Page 8


CoinBank Automated Systems signed an agreement with a military service agency to install CoinBanks, its automated coin-deposit machines, at certain Army and Air Force locations. Page 10


First Union Capital Markets, the securities subsidiary of First Union, said it has provided a range of financing to a French textile company. Page 21


Bank analyst Moshe A. Orenbuch has left Sanford C. Bernstein for Donaldson, Lufkin & Jenrette. Page 22

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