Today's News

TECHNOLOGY:

ORACLE CORP. will provide its electronic mail technology to screen telephones, initially through the screen phone programs of Philips Home Services and Visa Interactive. "We have always believed in the three-screen home," said Gerrit Schipper, president and CEO of Philips Home Services. Page 16

PREMIER SOLUTIONS announced it is developing - with Bankers Trust's help - data warehousing software aimed at trust banks and other institutional investment managers. Page 15

WASHINGTON:

REVERSING COURSE, House Banking Committee Chairman Jim Leach has decided to use budget legislation to fix the thrift insurance fund and reform the Community Reinvestment Act. Page 2

BANKS COULD FACE new fair-lending prosecutions if Senate Republicans manage to strip power from HUD. Page 4

COMMUNITY BANKING:

SILICON VALLEY Bancshares, which has helped to fuel technology growth and venture capital start-ups on the West Coast and Massachusetts, may soon be tapping into the high-tech-heavy Mid-Atlantic states. Page 11

CREDIT UNIONS:

STANFORD FEDERAL Credit Union has put mortgage lending on the cyberspace by adding a lending application called Mortgage Mart to its site on the Internet's World Wide Web. Page 12

U.S. CENTRAL Credit Union's search for a chief executive officer probably will take some time, its chairman said. Page 12

MORTGAGES:

REP. RICK LAZIO of New York, chairman of the housing subcommittee of the House Banking Committee, is proposing to bar the government from insuring home loans except those made to first-time and low-income homebuyers. Page 20

IN ITS SECOND such pact in less than a week, Fleet said it would commit $210 million to mortgage and business funding in Massachusetts in exchange for state endorsement of the planned merger with Shawmut.

Page 20

INVESTMENT PRODUCTS:

CROSS MARKETING, a New Jersey firm that sells annuities and mutual funds to bank brokerage units, has begun offering new services to other bank departments. Page 17

CREDIT/DEBIT/ATMs:

BANKS THAT have not aligned with top merchant processing firms like Nabanco and Card Establishment Services are on the verge of extinction in the acquiring side of the credit card business, says consultant Richard N. Speer Jr. Page 22

REGIONAL BANKING:

STOCK ANALYST George Salem's prediction of a Wells Fargo-First Interstate merger has fueled price rises for First Interstate stock and skepticism among other analysts. Page 6

SUBSIDIARIES of Banc One and Transamerica Corp. said they are teaming up to give boating and recreational vehicle dealers a package of wholesale and retail financing. Page 6

FINANCE:

PROCTER & GAMBLE has upped the ante in its derivatives suit against Bankers Trust by filing a civil claim under the RICO Act.

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