WASHINGTON: BANKS ARE reacting cautiously to news that the Justice Department is investigating efforts by insurers to block sales of the so-called Retirement CD. Page 2 THE CREDIT UNION industry's regulator postponed a decision on the fate of Capital Corporate Federal until early this week. Page 2 REGIONAL BANKING: UNION PLANTERS' worse-than-expected fourth-quarter was shrugged off by Wall Street as analysts focused on better prospects for 1995. Page 6 DISSIDENT board members of Compass Bancshares in Alabama, led by the company's founder, have launched a bid to put the bank up for sale. Page 6 CREDIT/DEBIT/ATMs: FIRST DATA reported that last year revenues grew 11%, or $162 million, to $1.7 billion, while net income climbed 20%, to $208 million or $1.87 a share. Page 16 DIGEST: A review of the past week in the American Banker, including a look at how community bankers are viewing the prospects of further increases in interest rates. Page 8 COMMUNITY BANKING: FIRST COMMERCIAL of Arkansas took an 8-cent-per-share hit to '94 earnings because its insurance carrier hasn't yet agreed to cover part of a $9.25 million lawsuit settlement. Page 11 CREDIT UNIONS: MARCIN SAR, head of Polish and Slavic Federal in Brooklyn, has built a thriving business by catering to the special needs of Eastern European immigrants. Page 18 A NEW YORK credit union president's struggle to save his tiny institution from liquidation looks almost hopeless. Page 19 MORTGAGES: NATIONSBANK Corp. is taking a cautious approach to building its home loan business. Page 20 FANNIE MAE announced a $100 million pilot program last week to buy government-insured home rehabilitation loans. Page 20 INVESTMENT PRODUCTS: CONSUMERS ended 1994 with heavy buying of fixed-income securities that helped cushion the blow of lagging mutual fund sales at bank brokerage affiliates. Page 22 DENNIS C. HENSLEY of J.P. Morgan will head the National Association of Securities Dealers' new committee for bank-affiliated brokerages. Page 22 AMERICAN EXPRESS Travel Related Services Co. reported net income of $998 million in 1994, a 13% increase from 1993, and $237 million in the fourth quarter, a 14% rise. Page 17 TECHNOLOGY: BANK OF BOSTON signed a multimillion-dollar contract to install a PC-based branch automation system from International Business Machines Corp. Page 13 VERIFONE reported significantly higher revenues and profits for the fourth quarter and full year of 1994. Page 15 FINANCE: THE FED is widely expected to push up interest rates again this week, but signs are growing that it may have achieved its goal of cooling down the economy. Page 28
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