COMMUNITY BANKING: GEORGE BUTVILAS arrived in the far reaches of Michigan's Upper Peninsula in 1990 to rescue a failing thrift, D&N Financial Corp., and his military side came shining through. Today, he has completely reshaped the $1.1 billion- asset thrift. Page 8 FIDELITY BANK, a Texas institution that six months ago pushed for limits on the state bank commissioner's power to regulate its mortgage warehousing business, says it could lose up to $9.8 million on the unit. Page 9 WASHINGTON: UNDER ATTACK from the new Republican congressional majority, federal regulators said they would curb their use of a controversial legal doctrine in lawsuits involving failed thrifts and banks. Page 2 THRIFT LOBBYISTS moved into high gear last week after the Federal Deposit Insurance Corp. decided to cut bank premiums while keeping rates high for savings institutions. Page 4 REGIONAL BANKING: COMPASS BANCSHARES, struggling to fend off a proxy challenge, has enlisted the aid of Wachtell, Lipton, Rosen & Katz for legal advice and CS First Boston Corp. as its investment banker. Page 6 ANALYSTS and investors are asking when First Commerce Corp. of Louisiana, which suffered proportionally more than most other southeastern banks from last year's rising interest rates, will have a "clean" quarter. Page 6 CREDIT UNIONS: SENATE BANKING Committee Chairman Alfonse M. D'Amato will hold a hearing Feb. 28 to investigate the government's seizure of ailing Capital Corporate Federal Credit Union. Page 11 INVESTMENT PRODUCTS: THE LATEST RISE in interest rates may finally calm the financial markets enough to spur lagging mutual funds sales, some bank executives said in interviews last week. Page 12 FRANKLIN RESOURCES is introducing a new retirement planning service and has appointed Kent Strazza, the executive who ran its bank sales division, to sell it. Page 12 MORTGAGES: THE SECONDARY market conference held for thrift executives last week in Phoenix has come a long way since it began 40 years ago. Now, the meeting is dominated by Fannie Mae and Freddie Mac. Page 14 AN AGGRESSIVE fraud campaign against home lenders - allegedly masterminded by a white supremacist group - has nearly stymied law enforcement officials. Page 15 TECHNOLOGY: ELECTRONIC DATA Systems Corp., aided by strong sales to financial services firms worldwide, reported record earnings and revenues for the fourth quarter of 1994. Page 19 CREDIT/DEBIT/ATMs: CHASE MANHATTAN and Nynex Corp. surprised few card industry people when they announced a long-anticipated cobranding agreement, but they sparked speculation about future cooperative ventures between the two powerful New York companies. Page 18 FINANCE: BANK STOCKS rallied strongly on news of a jump in unemployment that fanned hopes the economy has slowed enough to discourage the Federal Reserve from further rate increases. Back page
Save $400 off your subscription. Special offer ends April 30, 2017.
No credit card required. Complete access to articles, breaking news and industry data.
Have an account? Sign In