The top cop at the OTS sees some scary parallels to the 1980s, even though the thrift industry is now better capitalized and more profitable. Page 3


A lagging stock price is creating headaches for Salt Lake City-based First Security, even as the performance of rival Zions shines. Page 4

Fleet and BankBoston have told the Federal Reserve they would divest more branches but less in deposits and assets than previously announced. Page 5


A director of Omaha-based Commercial Federal has resigned, two months after announcing he was forming his own bank. Page 8


ON-LINE BANKING: Bank One announced a major initiative to address the electronic bill presentment needs of corporate customers. Page 10


Rising interest rates are taking a toll on the mortgage business. The latest data show a dramatic decline in U.S. housing starts in April and a sharp drop in mortgage applications last week. Economists say the market was bound to cool off from last year's robust level as rates rose. Page 12


As providers of electronic bill presentmentservices, major U.S. billers rank banks near the bottom of the list. Page 11

An ABA consultant is leaving to form a nonprofit group that would help ensure the privacy of financial information. Page 11


Star Systems plans to advertise its ATM network on the big screen before movies, including the new "Star Wars" movie. Page 14

The on-line loan marketplace LendingTree is offering cash incentives to some borrowers who apply for First USA credit cards. Page 15


Bank stocks dodged a bullet when the Federal Reserve decided not to raise interest rates, but that does not mean tranquil trading days ahead. Page 26

Finance company Contifinancial said that it had agreed to be bought by a division of General Motors. Terms were not disclosed. Back page

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