KEY FEDERAL Savings Bank has hooked up with the Church of God in Christ, a primarily black Pentecostal denomination, in what is believed to be the first national church affinity card program. Page 23 UNITED STATES Banknote Corp. has signed a definitive agreement to acquire a 24.5% interest in Transfirst Inc., a company that specializes in electronic benefits transfer. Page 24 COMMUNITY BANKING: ACQUISITION FEVER is spreading to even the most rural parts of Texas these days, and some of the state's smallest banks are pursuing Bank of America branches. Page 4 MID AM INC. added a specialty collection agency to its cache of nonbank acquisitions last week, buying Florida's Certified Credit Systems Inc. through a subsidiary. Page 4 MORTGAGES: WATCH OUT for loans backed by insufficient home equity. That was the message a prominent consultant on home equity lending delivered last week to federal regulators. Page 22 INDUSTRY VETERAN John T. Daly has been hired to run loan origination activities at the mortgage subsidiaries of Fleet Financial Group. Page 22 INVESTMENT PRODUCTS: A RECENT federal decision will let banks that are custodians for mutual funds assets they manage generate profits from lending out securities. Page 14 THE FEUD between two companies with similar approaches to managing mutual fund assets appears headed for a knock-down, drag-out court battle - with potential customers sitting on their hands until a verdict is reached. Page 18 TECHNOLOGY: SOFTWARE DYNAMICS Inc. has introduced a branch automation system built on Microsoft Corp.'s Windows NT operating platform. Page 9 TO OFFER customers a broader range of services, Wachovia is working with IBM to upgrade technology in its branches and a 24-hour telephone banking center. Page 10
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