WASHINGTON

Merger mania is endangering the deposit insurance funds, and politics is preventing a rational solution, the chairman of the FDICsaid. Page 2

administration officials told a House panel that customers must be given the chance to object before any sharing of their data by financial institutions. Page 2

COMMUNITY/REGIONAL

Small bankers are fighting a reform bill amendment, saying it would lead to higher fees for banks that clear or transport checks through the Fed. Page 6

INVESTMENT PRODUCTS

KemperFunds has won places on the preferred provider lists at Citigroup and other banks in recent months and is planning a marketing drive to target bank trust departments. Page 7

The chief of KeyCorp's insurance unit, Roger Dunker, has been hired by First Union to help it in what has become a growing business for banks. Page 8

NATIONAL/GLOBAL

U.S. Bancorp promoted vice chairman Philip Heasley to president and chief operating officer. CEO John F. Grundhofer says he plans to retire in about five years and Mr. Heasley could be his successor. The new president "is uniquely qualified to coordinate our efforts around technology and the Internet," the CEO says. Page 4

MORTGAGES

another big U.S. home lender is seeking to export its efficient procedures and technology-this time to South America. Page 13

CARDS

Verifone has introduced a software system for small and midsize retailers to manage networks of point of sale terminals. Page 14

DIGITAL FRONTIERS

ON-LINE BANKING: Net.Bank, an Atlanta bank that exists primarily on the Internet, reported second-quarter net income of $768,000-nearly five times the year-earlier total. Page 16

TECHNOLOGY

Small and midsize billers are getting more marketing attention from electronic bill providers, highlighting the importance of smaller billers in spurring consumer adoption of on-line billing. Page 18

MARKETS

A Credit Suisse First Boston analyst added another eight banks, all of them regionals, to his downgrade list. Back page

Whitney Holding of New Orleans has named Thomas L. Callicutt chief financial officer, succeeding Edward Grimball, who resigned last fall. Back page

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