ANALYST ROUNDTABLE

Members of the American Banker Analyst Roundtable are starting to worry that banks may be overspending on technology. Talk of data mining, micro segmentation, and the like prompted the roundtable's newest member, Judah Kraushaar of Merrill Lynch, to wonder "whether the buzzwords are running ahead of reality at many companies." Page 14

WASHINGTON

In a Rose Garden ceremony, President Clinton proposed reforms to make it easier for small businesses to create pension funds. The reforms include a 401(k) plan specifically for small businesses. Page 2

In the wake of the Supreme Court decision allowing national banks to sell insurance from small towns, state insurance commissioners are scrambling to maintain control over banks entering the business. Page 2

REGIONAL BANKING

Citicorp's private banking unit is said to have helped the brother of former Mexican president Carlos Salinas transfer millions of dollars out of Mexico. Citi declined to comment on the report. Page 5

INVESTMENT PRODUCTS

Mutual fund executives who sell their wares through brokerages tried to dismantle the growing perception that investors prefer to avoid brokers and invest their money in funds that market directly. Page 7

COMMUNITY BANKING

Santa Rosa Junior College is $3.2 million richer now, thanks to a hefty dividend payment from Exchange Bank. A trust holding 51% of the bank's stock was set to benefit the school. Page 8

Community banks have been increasing fee income fast in recent years, but a bank researcher thinks consumer backlash may frustrate small banks efforts to further boost noninterest income. Page 9

MORTGAGES

What was to have been HUD's final Respa-related rulemaking session broke down Wednesday after the 18 members failed to agree on revisions. Another meeting was set for late May. Page 12

Fannie Mae showed off new high-tech goodies, including an electronic network for lenders and upgraded mapping software, during an annual spring conference of secondary-market executives. Page 13

CREDIT/DEBIT/ATMs

The president of CES/Nabanco is being promoted to group president of First Data's card services unit. Page 16

As the latest pop star to let marketers use his image on a credit card, Elton John joins the Rolling Stones, Elvis Presley, Frank Sinatra in the pantheon of plastic. Page 16

TECHNOLOGY

Toronto Dominion's sprawling new site on the World Wide Web - all 3,800 pages of it - may mark the beginning of a new age of epic-length bank pages on the Internet. Page 18

FINANCE

The Union Bank of Switzerland board took only two days to unanimously reject a merger proposal by Swiss banking rival CS Holdings. A Union official described the merger offer as "coercion." Back page

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