WASHINGTON

The OCC is wrapping up a bulletin warning national banks against taking on too much risk in investing trust funds in derivatives. Page 2

After a year of bouncing from assignment to assignment, Leann G. Britton, a 20-year veteran of the Comptroller's Office, is ready to settle in to a new job overseeing 2,700 examiners in the nation's capital. Page 3

REGIONAL BANKING

Strong consumer finance revenues helped generate a 15% gain in first- quarter earnings for Barnett Banks. The increase matched analysts expectations. Page 5

PNC Bank has found new significance in a time-tested homily: Keep the customer satisfied, because you'll make more money from the satisfied clients than from dissatisfied ones. Page 4

SPECIAL REPORT

The mortgage industry, overstaffed because of shrinking volume last year, is reaching out for more business and better margins with a variety of new or recycled products. And it's also exploring new pathways between lenders and borrowers. Pullout section

COMMUNITY BANKING

Pennsylvania's Commonwealth Savings Bank won bidding for 11 Meridian Bancorp branches and $424 million in deposits being divested as part of the CoreStates-Meridian merger. Page 6

Big-bank predators appear to be sated. Despite predictions of a wave of small bank buyouts and mergers of equals, acquisitions of banks with less than $3 billion in assets have slowed dramatically. Page 7

MORTGAGES

Patriot Mortgage, a relatively small mortgage lender, has quit making home loans and sold its five branches. The firm's chairman said competition from big banks forced him to bag it. Page 8

TECHNOLOGY

Sensing an opportunity, IBM has expanded its risk management efforts by hiring an additional 100 industry experts to develop software to rate risk and valuation of derivatives instruments. Page 12

COMPLIANCE

The federal banking agencies are framing plan to allow examiners to release far more information to bankers about their banks' Camel ratings. Page 15

INVESTMENT PRODUCTS

U.S. Trust is offering to settle protracted litigation over the estate of tobacco heiress Doris Duke. If approved, the settlement would leave U.S. Trust as sole executor of the $1.2 billion estate; Ms. Duke's butler would lose his role as co-executor and gain a $5 million payment. Page 18

CREDIT/DEBIT/ATMs

AT&T's systems integration unit has won a contract to upgrade MasterCard's global technical infrastructure. Page 20

In a rare moment of harmony, Visa and MasterCard officials have agreed not to argue over their respective consumer privacy policies. They're also encouraging member banks to address the privacy issue now. Page 20

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