BANK TRUSTEES facing environmental liability lawsuits won another big case when a federal appeals court strengthened an already favorable lower court ruling. Page 2


REVERSING ITSELF, Mellon said it would be willing to manage some assets of a group that crusades against same-sex marriages. But the group said it no longer wanted Mellon's help. Page 4

U.S. BANCORP announced a raft of key appointments designed to make its organization more customer-focused. Page 4


BANK OF NEW YORK is buying Estabrook Capital Management, a small asset management firm that specializes in value stocks. Page 10



PNC EXPECTS to originate 25% of its consumer loans by Internet over the next two years. Page 18


IN 25 YEARS of examining small banks, Stuart Scherer heard his share of complaints. Now, as the new director of community banking activities for the Office of the Comptroller of the Currency, Mr. Scherer hopes "to resolve some of that pain." Page 7


FM WATCH, the lender/insurer coalition formed to restrain Fannie Mae and Freddie Mac, has pounced on a $1 billion writedown by Freddie as evidence for its case. Page 12

THERE MAY BE alternative strategies for subprime companies in trouble. One is the outsourcing of servicing, a route taken in a deal that was recently announced. Page 13


RAINBOW TECHNOLOGIES may be emerging from years of data-security obscurity. The California company claims growing interest in its iKey, an alternative to the smart card. Page 20

LATIN AMERICA is fertile ground for the SET security protocol for Internet transactions, according to a study done for Visa. Page 21

FIRST UNION, facing Wall Street skepticism, had to pay investors a hefty premium on the $350 million of its bonds that started trading Tuesday. Page 29

UNLIKE MANY investors who were buoyed by Tuesday's consumer price figures, a number of economists say they expect the Federal Reserve to raise interest rates not only this month but also in October. Page 30

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