WASHINGTON

A Treasury official on Monday criticized Rep. Jim Leach's short-term plan to shore up the ailing thrift insurance fund. Page 2

INVESTMENT PRODUCTS

BankAmerica wants public-sector retirement plans to become a source of assets for its proprietary mutual funds. Page 5

BHC Financial is struggling now that some of its largest bank clients are choosing other firms or deciding to do their own investment clearing. The brokerage clearing firm's stock plunged Friday after its largest client, Citicorp, said it would do its own investment clearing. Page 6

CREDIT/DEBIT/ATMs

American Express Co. veteran Steven D. Goldstein will join Sears, Roebuck and Co. as president of its credit business. Mr. Goldstein resigned as chairman and CEO of American Express Bank last month. Page 11

REGIONAL BANKING

UNION PLANTERS' deal to buy a Memphis thrift company would bring with it a lucrative - and potentially risky - business in delinquent loans. Page 9

A thrift president who joined Firstar Corp. three and a half years ago is being squeezed out as the Milwaukee-based company reorganizes. Page 8

COMMUNITY BANKING

Utah's bankers, fortified by a state Supreme Court ruling, are pushing ahead with a suit to limit credit union membership. Page 14

Upstate New York's Trustco Bank Corp NY was rebuffed last week in a takeover bid for Albank Financial Corp. that would have made it the largest independent player in the Albany area. Page 15

MORTGAGES

Fannie Mae is well on the way to its goal of financing $1 trillion in housing for low income, minority, and other underserved borrowers by the end of the decade, its chairman said. Page 17

Mortgage-backed securities have lost some of their luster with a key group: investors in mutual funds. Page 16

TECHNOLOGY

Microsoft Corp. is increasing the options available to financial institutions that deliver banking services with its Money personal finance software. Page 19

Research from the National Automated Clearing House Association says consumers are receptive to check truncation, in which merchants take information from a check's magnetic ink line, then electronically send data to a organizations that convert them into debit transactions. Page 18

FINANCE

Morgan Stanley is entering an extremely competitive and crowded business in leveraged loans to support acquisitions, and several big-bank players could suffer from the competition. Page 22

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