Today's News

WASHINGTON:

TAKING STRONG EXCEPTION to a senior U.S. Treasury official, House Banking Committee Chairman Jim Leach said the $25 billion in the Bank Insurance Fund belongs to the banks, not Uncle Sam.

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ASK RICKI HELFER about the big issues she faced during her first year as FDIC chairman and she doesnt' breathe a word about the bank or thrift funds. Instead she stresses what she's doing to overhaul the agency.

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REGIONAL BANKING:

BANKAMERICA has installed new leaders for its substantial wholesale and international units. Page 5

MARINE MIDLAND BANK is seeking regulatory approval to acquire two branches in New York's Chinatown from another subsidiary of HSBC Holdings, Hang Seng Bank.

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SMALL BUSINESS:

NORWEST's Twin Cities unit is moving to dispel the notion among small businesses that it's remote and out of touch. Page 6

COMMUNITY BANKING:

MOST CONSUMERS hold a low opinion of bankers and don't think they're involved in their communities, a Gallup study found. Only 31% of retail banking customers believe banks care about their communities, pollsters concluded, and only 44% believe banking is an honorable profession.

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BANK RIVALRY and one-upsmanship seem to be alive and well in Waterbury, Conn., but it's a touchy subject for the two banks involved.

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MORTGAGES:

SOME LENDERS EXPECT low 30-year fixed rates to trigger a refinancing boom, and the potential seems particularly strong in the Northeast and the Mountain states.

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A CHANCE to increase originations and the need for geographic diversity drove New York's Dime Savings to two mortgage banking acquisitions last week, senior executives said. Page 12

INVESTMENT PRODUCTS:

COMING SOON to a bank branch near you: three of the country's best-known no-load mutual funds. Berger Associates is targeting institutional sales - including the bank channel - to swell its $3 billion- asset fund family.

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TECHNOLOGY:

CONSUMER-INITIATED electronic bill payments still can't seem to get over the last hurdle to mass acceptance. That was the message at the recent Electronic Commerce and Payment Conference in New York. Page 23

GETTING ON-LINE with the newest personal-finance software from Intuit and Microsoft is less than automatic, some bankers have learned. Many expected a rocky start, but some who foresaw smooth sailing got a rude awakening.

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CREDIT/DEBIT/ATMs:

PULSECARD has struck up a deal with an affiliate of the American Medical Association to provide credit card processing for member doctors and dentists who accept Visa, MasterCard, and American Express. Page 18

FINANCE:

HEAVY INSIDER SELLING of Imperial Bancorp stock from June through August suggests that executives at the $2.6 billion-asset California company are skeptical about takeover speculation. Back page

NORWEST WILL PAY bargain rates on the $450 million of debt it issued last week. The superregional cashed in on keen competition among Wall Street underwriters. Back page

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