THE SECURITIZATION of small-business loans is still in its infancy, but pending changes in a Small Business Administration program may help spur activity.
HSBC AMERICAS is dusting off an old idea - the stock-index CD - to pump up interest in certificates of deposit. Page 6
NORTHERN TRUST is working to fill some high-level management positions. Two of its eight senior vice presidents quit the Chicago-based banking company this month.
NATIONSBANK unveiled a no-down-payment, no-closing-cost mortgage program that bankers and activists said could become the new standard for community reinvestment. "This extends the market of people we can reach," says Catherine Bessant, a senior vice president. Under the five-year, $500 million program, low-income borrowers will receive credit counseling from Neighborhood Assistance Corporation of America.
AFTER A TWO-YEAR investigation, the Justice Department dropped plans to sue Barnett Banks on fair-lending grounds. Barnett has consistently defended its lending practices.
THE FOUNDER of a California hedge fund has gone beyond telling a Massachusetts thrift how to boost profits. He is also pitching his ideas to other shareholders and potential investors - including some already in takeover talks with Abington Savings.
INDIANA community bankers are steamed over legislation that would let out-of-state banks accept municipal deposits at their local branches.
VERIFONE has begun deploying a system designed to automate the management of vast networks of transaction terminals. Page 12
NORWEST has hired as executive vice president for institutional lending the executive that GMAC Mortgage fired in June as head of national production.
HOME-EQUITY and other speciality mortgage lenders are trying to strengthen customer relationships in the face of competition from high- technology origination and servicing systems.
FIRST COMMERCE of Louisiana, a banking pioneer in data base marketing, is upgrading its technology to create more refined direct marketing campaigns.
PAPER CHECKS are here to stay, and that's good for banks, writes consultant Allen H. Lipis. Consumers love them, they're profitable, and banks have a processing monopoly, he points out.
UBS Securities downgraded J.P. Morgan & Co. to "hold" from "buy," citing concerns about the global trading environment.