PEOPLE'S BANK's headquarters in downtown Bridgeport, Conn., symbolizes the leadership roles played by the institution and chief executive officer David E.A. Carson in the city's revival. Page 7

WASHINGTON

With House and Senate financial reform bills evolving rapidly behind the scenes, Senate Banking Committee Chairman Phil Gramm divided the insurance industry's opposition to his plan. Page 2

The Farm Service Agency is going through trying times: Its fund for guaranteeing ag loans is nearly dry, and proposed budget cuts threaten to slash by 27% its army of 2,600 lenders. Page 3

NATIONAL/GLOBAL

Citigroup's new head of North American branches is launching a strategy to wring more profits out of the bank's national network. Page 5

MORTGAGES

Chase Manhattan Mortgage licensed a vendor's integrated loan origination system instead of upgrading in-house. Page 9

TECHNOLOGY

Sun Microsystems launched its heaviest competitive assault on mainframe computing, with Chase helping to lead the charge. Page 10

Chase, one of the last big retail banks without an Internet offering, launched a Web version of its on-line banking service. Page 10

INVESTMENT PRODUCTS

Continuing its expansion in asset management, First Union unveiled plans to buy a Virginia firm with $5.5 billion in fixed-income accounts for institutional clients. Page 11

J.P. Morgan's mutual fund group attributes its 72% increase in assets under management last year to ratcheting up its sales and marketing efforts. Page 12

MARKETS

The president and two senior analysts resigned from Keefe Managers, the New York money management firm that invests primarily in bank stocks. Page 22

Earnings at National City of Cleveland may fall short of expectations, an analyst warned. Back page

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.