WASHINGTON:

THE TREASURY Department was supposed to report to Congress Dec. 29 on the future of the U.S. financial services industry - helping lawmakers and regulators "get ahead of the curve," in the words of Secretary Robert Rubin. But it missed its deadline, and there are no signs that the agenda- setting study will be ready any time soon. Page 4

REP. JIM LEACH criticized a group of big banks for locking themselves into an "impractical" position on insurance powers and said he's ready to move his Glass-Steagall bill without their consent. Page 2

REGIONAL BANKING:

FLEET FINANCIAL Group reached a definitive agreement with Kohlberg Kravis Roberts & Co. to convert the buyout firm's dual convertible preferred stock into Fleet common stock - removing an obstacle to the bank's consolidation of some acquisitions. Page 7

COMMUNITY BANKING:

A SUBURBAN DALLAS community bank has won a lawsuit to keep a St. Louis-based holding company from using its name. Page 5

MORE THAN EVER, the community bank director's job is about selling. Page 5

MORTGAGES:

AMERICAN BANKER asked top mortgage business executives and noted industry observers to do a little crystal ball gazing. Overall, their predictions for 1996 are positive - low interest rates, combined with a decent economy, should provide steady growth for the housing industry. Page 8

INVESTMENT PRODUCTS:

STATE STREET Boston Corp. has completed an end-of-the-year deal to provide custody services for the world's largest mutual fund, Fidelity Investments' Magellan.

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TECHNOLOGY:

IN CALIFORNIA, several small banks and one large thrift say that check image statements have given them a marketing edge over the state's largest banks, many of which are committed to check safekeeping. Page 12

THE ARIZONA Clearing House Association may break its industry's not- for-profit mold by forming a profit-seeking subsidiary. Page 13

CREDIT/DEBIT/ATMs:

CAPITAL ONE Financial Corp. is bulking up its portfolio by issuing a cobranded Gold's Gym International Visa card. Page 9

STAN ANDERSON, a consultant who was instrumental in getting banks into the purchasing card business, has formed an alliance with Business Dynamics Consulting Inc. of Nyack, N.Y. Page 9

FINANCE:

CHANCELLOR Capital Management has hired the renowned market strategist Katherine Hensel to follow financial service companies. Back page

BASED ON insider trading of bank shares in 1995, bankers generally proved themselves to be savvy forecasters of industry trends. Page 18

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