WHEN HUD LAWYER Grant E. Mitchell was asked to write rules to implement the Real Estate Settlement Procedures Act, he thought it was going to be a fairly simple task. Eleven years later, he's still at it. Page 16 STATE BANKS have a new way to challenge decisions made by their examiners. The Fed and FDIC are following the lead of the Comptroller's office by setting up a review process for appeals. Page 17 COMMUNITY BANKING: A minority-owned bank in Philadelphia has filed suit against the Resolution Trust Corp., charging it with breach of contract relating to a soured loan sale. Page 6 INVESTMENT PRODUCTS: SUNTRUST BANKS is gearing up to launch an actively managed international equity mutual fund, in a bid to increase its share of the retirement plan market. Page 10 MELLON BANK Corp. is facing a tough decision about what to do with a sizable custody servicing contract for its Dreyfus mutual fund family, according to knowledgeable sources. Page 11 TECHNOLOGY: GREAT WESTERN Bank, the nation's second-largest thrift, plans to be the first user of image-based item processing systems being installed at Electronic Data Systems Corp. Page 13 MORTGAGES: COUNTRYWIDE Credit Industries has turned down a chance to originate home loans to customers of the Price Club retail chain. Page 14 YET ANOTHER member of Residential Services Corporation of America's start- up team is leaving to pursue other endeavors. Page 14 CREDIT/DEBIT/ATMs: WHILE OVERSEAS organizations claim most of the credit for recent advances in smart cards and electronic purses, U.S. banks have begun weighing in with significant programs of their own. Page 19 FINANCE: CHASE MANHATTAN Bank is playing a lead role in more than $4.3 billion of acquisition financings in the syndicated loan market. Page 22 THE STOCK of First Fidelity Bancorp. was downgraded by two Wall Street analysts, who said its prices was less than 10% away from their targets. Back page
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