WASHINGTON

Banking leaders criticized a proposed labor rule, saying it would lead to a proliferation of small unions and complicate relations with bank employees. Page 2

The ABA supports a new bill easing curbs on exports of encryption software. The measure would make it easier for banks to provide code-making material to overseas branches, the trade group says. Page 3

COMMUNITY BANKING

First Bank of Missouri has started a more profitable chapter of its life, but one of the architects of the turnaround is gone, and no one is willing to say why. Page 6

MORTGAGES

Fannie Mae named 27 members to its National Advisory Council and appointed as chairman Angelo Mozilo, chairman of Countrywide Funding. Page 8

text here. Page 9

CREDIT/DEBIT/ATMs

Branding strategist Alan Bergstrom says it's time for bankers to retire their prejudice against the idea. Page 10

REGIONAL

Banc One stood aside from last year's consolidation craze, but did a lot of looking -and will do the same in 1996, chairman and chief executive John McCoy says. Profit potential didn't justify 1995 deal prices, he says, but if there's any list of the 30 biggest acquisition targets, "I will have talked with every one." Page 6

TECHNOLOGY

Open Market Inc., Premenos, and three other vendors have created a software package for doing business over the Internet. OM-Transact sets up codes for trading partners to authenticate Internet transactions and provides for electronic transmission of documents. Page 13

National City Corp. is installing an image-based wholesale lockbox system in its regional processing centers. The aim is better cash- management service. Installation should take a year or more. Page 12

INVESTMENT PRODUCTS

KeyCorp plans to launch several proprietary mutual funds but leave the managerial headaches to an outside firm. It is con considering a "hub-and- spoke" structure for the new funds. Page 14

Sanford C. Bernstein & Co., an independent money management firm known for keeping to its own, is reaching over to the clientele of banks by subadvising bank-managed 401(k) plans. Page 14

FINANCE

Barnett stock slid after a Prudential analyst downrated it to "hold" from "buy." Ruchi Madan said she still considers the bank "a superior performer" but doubts it stock will rise more than 10%. Back page

The problems that plagued her industry in 1994 are a thing of the past, says Gay Evans, chairman of the International Swaps and Derivatives Association, but it still faces a threat from regulators abroad. Back page

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