WASHINGTON's banking community was in stitches last week thanks to two phony memos parodying an exchange between House Banking Committee Chairman Jim Leach and Speaker Newt Gingrich. Page 3

AN ADMINISTRATIVE law judge has recommended throwing out Office of Thrift Supervision charges against a prominent industry consultant who served on the board of directors of a Florida thrift. Page 2


J.P. MORGAN & CO. will seek to play a major role advising privatizations in India, said executives of the company's investment banking joint venture there. Page 4

SUNTRUST BANKS flagship Trust Company of Georgia, best known for corporate banking and personal trust services, has formed a subsidiary to make small loans to credit-impaired consumers. Page 4


EIGHT OF NINE regions in the country showed increases in home prices in the second quarter, according to figures compiled by Fannie Mae and Freddie Mac. Nationwide, prices climbed 2.7%. Page 12

JOINT VENTURES remain a hot area of business for real estate brokerage companies and lenders despite word that some deals may not be as profitable as expected. Page 12


TRADE ASSOCIATIONS are accusing the chairman of credit unions' regulatory body of making statements to reporters that undermine the industry's safety and soundness. Page 8

CORPORATE credit unions in the Carolinas plan to merge in an effort to deal with increased competition and expected tough new regulations. Page 9


CENTURA Securities has stubbornly held its own in North Carolina's crowded field of bank-run brokerages. Page 14

DEUTSCHE BANK is betting that U.S. customers are ready to span the globe for stock picks. The German bank's New York-based subsidiary has applied to create nine funds, each linked to a different country's stock market. Page 14


ACXIOM CORP., a data processing company that serves the top nine credit card issuers, has signed an estimated $100 million, five-year contract with Citicorp. Page 16

VISA International has announced that its Australian smart card pilot is live; the San Francisco-based association thus takes the lead in its race with MasterCard International. Page 16


BANK TECHNOLOGY stocks were mixed this week, as the red hot equities market lost some steam, at least temporarily. Page 18


BANKS FINALLY may be on the verge of extricating themselves from one of the biggest bad loans of the international real estate bust. Back page

AN ANALYST at Alex. Brown & Sons, saying it's time for investors to wake up and discover Norwest, upgraded his rating on the midwestern banking giant from "neutral" to "strong buy." Back page

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