FINANCE:

WORRIES ABOUT consumer credit quality caused one analyst to cut his investment rating on Capital One Financial Corp. But another, Thomas Brown of Donaldson Lufkin & Jenrette, sees the issuer's relatively cheap shares as "one of the those rare, great investment opportunities" because its 'information-based strategy' can transcend credit cards. Back page

J.P. MORGAN and Chemical have landed commitments totaling $1.3 billion for Westinghouse's acquisition of CBS. Back page

WASHINGTON:

IN A FURTHER attempt to crack down on bad loans, the FDIC has expanded its underwriting standards survey to include all banks the agency regulates. Page 3

A KEY Banking Committee Republican urged the House leadership to bring up regulatory relief and Glass-Steagall legislation for a floor vote as soon as lawmakers return from August recess. Page 2

REGIONAL BANKING:

WASHINGTON MUTUAL has hired a recently retired Bancorp Hawaii executive as chief financial officer, a post in which he will have significant influence now that the nation's fifth-largest thrift is striving to become more bank-like. Page 4

COMERICA INC., which has been doing business in Mexico since the 1960s, has joined the ranks of banks with offices there, opening one in Mexico City. Page 4

COMMUNITY BANKING:

RIVER BANK America, in the New York suburbs, reported an $11.8 million loss for its fourth quarter ended June 30 and a $24.4 million loss for its fiscal year, after a dispute with regulators over the value of some assets. Page 6

INVESTMENT PRODUCTS:

BANK LEUMI's experience helping develop the diamond business in Israel is coming in handy as its New York subsidiary refocuses its energies from the retail market to affluent individuals and midsize companies - including diamond merchants. Page 8

MORTGAGES:

WHERE originations are headed this year is hard to determine, because most lenders are unwilling to express an opinion right now - on or off the record. Page 10

CREDIT/DEBIT/ATMs:

IT SEEMS everyone in the smart card business wants a piece of the emerging U.S. market, and Belgium's Banksys is no exception. Page 14

TECHNOLOGY:

AS THE RANKS of U.S. banks are being thinned by an unprecedented wave of mergers, the number of large players in the service bureau business is shrinking as well. A consultant reports that only 16 major providers of core processing outsourcing services remain, down from 24 in 1987. Page 18

THE TWO organizations that draft changes to the Uniform Commercial Code have hammered out proposed revisions to the article governing letters of credit. Page 16

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