MORTGAGES: TOP BRASS at the Federal National Mortgage Association, including chairman James A. Johnson, made a high-profile effort to promote the company's stock to an elite audience of money managers and securities analysts. Page 8 SUBSERVICERS say they are growing briskly this year. And in a break with the past, some large nationwide lenders have begun farming out the servicing for loans with unusual features. Page 8 WASHINGTON: THRIFT PROFITS rose slightly in the first quarter, compared with the same period of 1994, the Office of Thrift Supervision reported. But thrift earnings still significantly trail those of banks. Page 2 PRESTON MARTIN, a former Fed vice chairman, says he knows what to do about the problems facing the Savings Association Insurance Fund: "I would combine the two funds and the two industries," banking and thrifts. Page 3 REGIONAL BANKING: SUMITOMO BANK of California has appointed a new top management team for the $5.1 billion-asset institution. Tsuneo Onda, 54, was promoted to president and chief executive from executive vice president. Page 4 FIRST TENNESSEE National bought the loan origination services of HomeBanc Mortgage Corp., the largest mortgage lender in Atlanta, for about $7 million. Page 4 COMMUNITY BANKING: AT LEAST half a dozen bank consultants in the Northeast are jockeying to assemble groups of community banks in Connecticut and Massachusetts to bid jointly on as many as 150 branches expected to be sold by Fleet Financial Group. Page 6 FALLING RATES after a year of increases have added to anxiety over interest rate risk among community bankers. Page 7 INVESTMENT PRODUCTS: A BRONX community group is trying to block U.S. Trust Corp.'s plan for absorbing a trust bank it bought. Inner City Press/Community on the Move contends that the banking powerhouse has a poor commitment to serving low- income neighborhoods. Page 10 THE MOOD at a recent Bank Securities Association conference on proprietary products was sober. That's an adjustment from the attitude a few years ago, when mutual funds were seen by many bankers as cash cows. Page 10 CREDIT/DEBIT/ATMs: CHASE MANHATTAN Bank plans to unload its last credit card operation abroad by selling its 54% interest in Manhattan Card Co. of Hong Kong. The bank said the operation had become nonstrategic for it. Page 13 TECHNOLOGY: WHEN AT&T launched its Universal Card in 1990, few credit card bankers considered it a serious threat. Five years later, the telecommunications giant ranks second in MasterCard and Visa cards issued and fifth in receivables. Page 14 THE FEDERAL RESERVE, trying to give the banking industry's efforts to promote electronic check presentment a much-needed push, said it would form an advisory group. Page 14
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