INVESTMENT PRODUCTS:

INVEST FINANCIAL Corp. was spared when hurricanes ripped the Florida coast recently - but it was prepared for the worst. Chairman Merlin Gackle says that in a matter of hours the Tampa-based investment training company could be up and running in a 60,000-square-foot bomb shelter at a resort in central Florida. Page 12

WASHINGTON:

PRESIDENT CLINTON is expected to choose a candidate this month to replace controversial National Credit Union Administration director Robert Swan, whose six-year appointment ended last week. Page 2

BANK LOBBYISTS, relieved that the industry escaped harsher alternatives, applauded the Senate for voting to rescue the Small Business Administration's loan guarantee program. Page 3

REGIONAL BANKING:

THE BANK of California, in one of its last earnings reports before combining with Union Bank, posted a 26% decline in after-tax net income for the quarter ended June 30. But most of the decline is attributable to an increase in taxes from last year. Page 4

CITICORP, continuing to expand its brokerage operation, said it has received preliminary approval to open a brokerage office in Istanbul. Page 4

COMMUNITY BANKING:

A GROUP of Kumeyaay Indians wants to use gaming-business profits to buy a troubled San Diego-area bank, but California officials could deal them out. Page 6

COMPLIANCE:

NATIONAL BANKS that meet its standards for special treatment will have fewer forms to fill out and can expect a quicker turnaround on applications to do such things as open or relocate branches, the Comptroller's office says. Page 8

MORTGAGES:

HOUSING WAS more affordable last year than at any other time in the 15 years U.S. Housing Markets has been keeping records. Page 10

TECHNOLOGY:

A GROWING NUMBER of bank traders are tuning in video news services on their desktop computers to get an edge in the fast-moving financial markets. Page 16

FINANCE:

M&A FEVER? You couldn't prove it by Wells Fargo & Co., which hasn't bought a bank in nearly five years. "What they are telling Wall Street," one analyst says, "is that they find investing in their own stock, which has a 25% return, a better deal than buying someone else's." Page 22

J.P. MORGAN & CO., NationsBank Corp., Natwest Markets, and the Bank of Nova Scotia have jointly won the mandate to lead a $1.5 billion loan for the Rank Organisation and MCA Inc. - primarily to finance a major expansion of Universal Studios Florida. Back page

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