WASHINGTON:
BANKING REGULATORS assured House lawmakers that the recent wave of megamergers will have minimal effect on consumers' access to banking services.
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SEVERAL ACTIVIST groups labeled Citibank as "Hog of the Month" for its lobbying efforts to kill direct student lending. Page 2
REGIONAL BANKING:
LOAN GROWTH was the recurring theme as midsize regional banks across the Southeast issued strong third-quarter earnings reports over the past week. Page 7
COMMUNITY BANKING:
SENSING a market opportunity, People's Bank of Bridgeport, Conn., the state's largest independent bank, is providing a full menu of correspondent banking services.
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PER DOLLAR of assets, small banks give more to local causes than big banks do, a study found.
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MORTGAGES:
GREGORY BARMORE, chief executive of GE Capital Mortgage, is considered a prime mover behind a coalition being formed by large lenders to lobby for favorable legislation apart from the Mortgage Bankers Association. Page 11
MELLON HAS NAMED a veteran company strategist as chairman of its mortgage subsidiary.
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INVESTMENT PRODUCTS:
SIZZLING EQUITY MARKETS fueled strong investment results for stock mutual funds in the third quarter, but bank-run funds lagged behind their nonbank competitors. Page 13
CREDIT/DEBIT/ATMs:
AMEX CONTINUED its high-level reshuffling by naming Thomas O. Ryder to lead the international operations of American Express Travel Related Services. He had managed the company's relationships with merchants. Page 18
EUROPAY International has appointed Louis-Noel Joly, a prominent French retail banker, as director and chief executive. He succeeds Ron H. Williams, Europay's founding chief, who is retiring. Page 18
TECHNOLOGY:
WHILE BANKS WRESTLE with a host of electronic banking issues, nonbanks may "eat their lunch" in the business, says an author of a recent Salomon Brothers study.
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IBM HAS HIRED 11 executives from Finexc Group, a New York consulting firm, to boost its technology relationships with financial institutions. Page 19
FINANCE:
SHARES OF SEACOAST Banking in Florida surged after the company got a "buy" rating as a takeover play and as a bank that will do well without being acquired. Back page
ON THE CAPITAL FRONT: Analysts said a negative rating outlook on Bankers Trust presents a buying opportunity for investors; First Union issued $250 million in 40-year debt with a 10-year put option. Page 26
