WASHINGTON

HUD is expected to issue a policy statement this week clarifying when fees that lenders pay brokers for securing high-rate loans are legal. Page 3

REGIONAL

The SEC is wrong on policy and on process in the debate over loan-loss reserves, writes Secura Group Chairman William M. Isaac. Page 4

MORTGAGES

HOME EQUITY: Servicing distressed home loans may well be a boom industry early in the next century, and most servicers are scrambling to prepare for the extraordinary leap in business. Page 6

INVESTMENT PRODUCTS

Credit Suisse Group's deal to buy Warburg Pincus Asset Management could herald a trend of big European financial institutions buying U.S. asset management companies, industry watchers say. Page 10

COMMUNITY

Small banks say they will be ready for the year-2000 date change but are less sure about their customers' readiness, according to a survey. The Grant Thornton study was said to rebut earlier data and media reports suggesting that smaller banks were less prepared for the date change than big ones. Page 8

DIGITAL FRONTIERS

SMART CARDS: Though U.S. banks have not been on the fast track to smart cards, a few are climbing aboard some transportation industry initiatives. Page 12

CARDS

Now that Mondex officially has a franchise in Japan, leaders of the global smart card organization are talking about significance far beyond the signing of two initial members. Page 13

TECHNOLOGY

With an end to year-2000 spending in sight, banks are getting ready to invest in revenue-generating technology. Page 14

First Union is among a growing number of institutions expanding their computer-based training with the help of the Internet. Page 15

CORPORATE FINANCE

Thomas Weisel Partners is expected to issue its first equity research reports today. Page 24

MARKETS

Despite recent weakness in bank shares, Wall Street analysts still foresee big potential gains in many of these stocks, First Call data indicated. Back page

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