REGIONAL BANKING
Standard Federal, a Michigan thrift with $15 billion of assets, has its work cut out for it in the tough Chicago market after closing its acquisition of Bell Bancorp. Page 4
COMMUNITY BANKING
Though regulators have seized two banks just this month, the overall rate of bank failures this year is tracking 1995's, which was the lowest since 1974 when three failed in the entire year. Page 14
First Interstate BancSystem, Montana's largest homegrown bank, is laying the groundwork for expansion with OTS approval for a federal savings bank charter in Hamilton. Page 15
MORTGAGES
When the Mortgage Bankers Association reported encouraging news on first-quarter mortgage delinquencies, some overlooked crucial data - large upward revisions for delinquencies in the third and fourth quarters. Page 16
While some large banks are pulling back or even exiting the mortgage business, Wesbanco, a rural West Virginia lender, is planning to acquire Universal Mortgage Co. to expand its mortgage effort. Page 16
WASHINGTON
Rep. Jim Leach is often compared to the Energizer bunny; he just keeps going and going. But after 17 months of struggling to get a Glass-Steagall repeal measure to the House floor, the House Banking Committee chairman had to admit defeat. The bill was launched with lofty goals but quickly drew the opposition of powerful business and legislative interests. Page 3
Draft guidelines for bank insurance sales drew immediate praise from bankers and legal threats from insurers after their release by the Office of the Comptroller of the Currency. Page 2
The Senate approved Federal Reserve Board Chairman Alan Greenspan for a third four-year term. Also approved for seats on the board were Alice Rivlin and economic forecaster Laurence Meyer. Page 2
INVESTMENT PRODUCTS
Two former United Jersey Bank executives hope to parley their expertise in the insurance business into a successful consultancy helping other banks set up profitable sales operations. Page 18
David Sanderford, the architect of Aetna's program to sell annuities through banks, resigned unexpectedly. The move, coming less than two years after his much-heralded arrival, surprised other bank insurance executives. Page 19
TECHNOLOGY
The unveiling of Verifone's new credit card payment system for the Internet was heralded by the company and its partner banks as the dawn of a new era. But analysts expressed skepticism about consumer acceptance of the new service. Page 22
