While defending the need for international bailouts during economic crises, Treasury Secretary-designee Lawrence H. Summers testified that private-sector lenders cannot get off scot-free. Page 2

OTS Director Ellen Seidman made a case for hauling CRA enforcement into the Internet age. "One obvious question is whether it is time to expand the traditional notion of community," she said. Page 2


Principal Financial, a Des Moines-based life insurance company, agreed to buy Bankers Trust Australia Group for $1.38 billion. Page 4


Farm Credit System lenders are divided over a proposal to overhaul the system's 83-year-old lending rules, scrapping geographic limits. Page 6



Wells Fargo says it expects to boost its Internet banking customer base, at 930,000 nearly the biggest in the banking industry, to 2.5 million by 2002. The San Francisco-based company has been an Internet leader in more than just customer acquisition. Page 13

A Hong Kong mobile phone company is jumping on the electronic presentment bandwagon-and may be the first Asian biller to do so. Page 13


Bisys Group plans to open offices in Luxembourg to provide back-office services to mutual fund companies. Page 7


A small FIRM on New York's Long Island is one of the largest FHA lenders to minorities. Page 10


Three Internet companies are offering ways for parents to set up bank accounts so their children can shop on-line. The youngsters would get electronic wallets linked to the parents' credit card. Page 14


A coalition formed to contain Fannie Mae and Freddie Mac fired its first salvos. It endorsed stricter capital requirements on them and urged HUD to raise affordable-housing requirements. Back page

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