WASHINGTON

The FDIC rejected a plea from community bankers to consider raising its $100,000 coverage cap. Page 2

COMMUNITY/REGIONAL

The Farm Service Agency is making it easier to acquire "preferred lender" status to encourage more banks to make farm loans. Page 6

INVESTMENT PRODUCTS

The Bank Securities Association is looking to increase its membership even as it has scaled back its June conference to a series of seminars. Page 7

BB&T said it is buying another Virginia insurance business, its sixth insurance agency deal in as many months. Page 7

CARDS

Capital One has joined the ranks of credit card issuers offering frequent-flier miles redeemable on any airline. Page 11

Visa said it foresees other governments following the United States and Great Britain in adopting payment cards for procurement and other uses. Page 11

NATIONAL/GLOBAL

uncertainty about the Federal Reserve's next rate move is keeping investors out of the junk bond market, says the chief high-yield strategist for Merrill Lynch. For three weeks, cash has flowed out of mutual funds that invest in high-yield bonds and issuance has slowed. Page 4

VIEWPOINTS Page 8

DIGITAL FRONTIERS

Wells Fargo has announced a digital authentication program for on-line merchants with the inducement of free digital certificates. Page 12

On successive days this week, two prominent technology vendors set out to capture a big prize inelectronic commerce security. Page 12

TECHNOLOGY

the National Automated Clearing House Association is developing a new method of paying bills over the phone. Page 13

MARKETS

A bad day for stocks was rockier for St. Paul Bancorp and Charter One Financial thanks to confusing newswire headlines and investor skittishness. Back page

A former CFO of a Chase unit was charged in a Manhattan federal court with bank and loan fraud in connection with a $4.36 million loan scheme.

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