Today's News

WASHINGTON

Bank One officials were stunned at the success of a pilot program offering electronic accounts to low-income consumers. Page 2

NATIONAL/GLOBAL

Bucking a trend among Canadian banks, Bank of Nova Scotia is going global with outposts stretching from Argentina to the Philippines. Page 4

Deutsche Bank won an exemption that lets it continue to manage pension assets despite an admission of fraud by the former Bankers Trust. Page 5

COMMUNITY/REGIONAL

Call centers deliver convenience to customers and sales opportunities to the bank, writes consultant John M. Floyd. Page 7

INVESTMENT PRODUCTS

Compensation for investment managers at banks is lower than at mutual fund and insurance firms, a study found, but bank brokers are gaining. Page 8

SouthTrust is using its series 7 sales force to drive its insurance sales, as brokers creating individual financial plans identify a customer's insurance needs. Page 9

MORTGAGES

Amresco, which acknowledged that it is seeking a buyer, could face the same problems as other specialty lenders that have tried to recapitalize. Page 10

Savings and loans must diversify from their home-finance focus to survive, speakers at a mortgage conference said. Page 11

TECHNOLOGY

Wells Fargo is making a $25 million strategic bet on a Denver-based software firm that helps automobile dealerships expand to the Internet. Page 14

MARKETS

Analysts said they expect Newcourt Credit to post earnings strong enough to rescue its merger deal with CIT Group. Page 22

As investors return to the market after a down week to take advantage of cheap prices, bank stocks are reaping the benefits. Back page