COMMUNITY BANKING: JOHN KANAS is a shareholder's dream, and his competition's worst nightmare. For years, the president of North Fork Bancorp. has been making waves in eastern Long Island's otherwise staid banking community. Page 8 AGRICULTURE lenders and borrowers are using lessons learned from the farm crisis of the 1980s to ride out problems in Montana's cattle industry. Page 9 WASHINGTON: A NUMBER of observers are reading the tea leaves and predicting that the Federal Reserve Board is about to undergo a massive turnover. Page 4 NEW JERSEY's Lusitania Federal Credit Union is making another bid for a thrift charter - this time with the support of the National Credit Union Administration's regional chief. Page 4 REGIONAL BANKING: IN WHAT has become an annual ritual, Central Fidelity Banks Inc. has strongly reasserted its intent to remain independent. Page 6 NORTHERN TRUST has obtained a license from the Hong Kong Securities and Futures Commission to set up a subsidiary for securities lending. Page 6 CREDIT UNIONS: The NCUA's plan to rein in credit union liquidity centers could kill some institutions and wound others, industry leaders said. Page 19 CREDIT UNION lobbyists are blasting bank proposals to use the industry's money to help bail out the thrift insurance fund. Page 19 TECHNOLOGY: FIRST INTERSTATE and Nordstrom are testing a service meant to help stores reconcile payments made to them through home banking. Page 12 INVESTMENT PRODUCTS: CHEMICAL Banking Corp. has dismissed two top executives from its retail brokerage subsidiary, apparently to cut costs amid declining sales, sources close to the bank said. Page 16 MORTGAGES: TOP OFFICIALS at Fannie Mae have stepped up their drive to reassure lenders that new loan-processing technology will not cut mortgage banks out of the system. Page 20 CREDIT/DEBIT/ATMs: MASTERCARD International has commissioned a government-sponsored research laboratory to develop advanced antifraud technology. Page 22
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