Today's News

WASHINGTON

The FDIC decided to liquidate rather than sell a failed Colorado bank's $250 million credit card portfolio. Page 2

The showdown over the Community Reinvestment Act moves to the House Banking Committee this week. Page 4

NATIONAL/GLOBAL

Mercantile of St. Louis revamped its management structure as part of a cost-cutting drive. Page 5

Standard Chartered said it agreed to buy UBS' trade finance business for $215 million in cash. Page 6

MORTGAGES

BankAmerica increased its commitments to two mortgage products aimed at low-income borrowers, a step toward meeting its $350 billion Community Reinvestment Act pledge. Page 10

Net.Bank, the two-year-old Internet bank, is starting to make a dent in the on-line mortgage business. Page 11

COMMUNITY/REGIONAL

With technology concerns seemingly under control, small banks are turning to the next stage of their year-2000 plans: convincing customers the bank is ready. "We need to initiate the discussion and get creative," says Donald R. Mengedoth of Community First Bankshares of Fargo, N.D. Page 8

New Mexico bankers are fighting a bill that would cap ATM surcharges at 50 cents. Page 9

CARDS

Banks may be missing an opportunity to provide financing to the fast- growing small-office/home-office market, a PSI Global study found. Page 12

INVESTMENT PRODUCTS

Working at Charles Schwab has been a financial and romantic boon for two mutual fund executives planning early retirement. Page 17

DIGITAL FRONTIERS

Australia and New Zealand Banking Group decided to use Internet banking software from Edify over Security First Technologies. Page 19

TECHNOLOGY

Stock of Checkfree, which is facing a lawsuit from its largest shareholder, took a wild ride. Page 22

Intelidata Technologies is starting to benefit from having unplugged its telecommunications business. Page 22

MARKET MONITOR

Analysts are wondering which bank will be bitten next by the United Companies Financial bankruptcy filing. Page 33

A conservative approach to lending and dealmaking won Old Kent Financial of Michigan an "outperform" rating from Lehman Brothers. Back page

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER