An American Bankers Association unit is urging the Fed to more than double the amount of securities that holding company affiliates can underwrite. Page 2

Despite rising consumer loan delinquencies, federal regulators at all three banking agencies are satisfied with industry reserves. Page 2


U.S. banks are warming up to Europe, and overseas assignments are becoming more commonplace, this week's Career Tracks article says. Page 6

Union Planters expects to enhance its trade finance capabilities now that a court decision has cleared the way for it to buy a Venezuelan-owned bank near Miami. Page 7


First Allmerica Financial Life Insurance unveiled a life insurance policy for wealthy bank clients that could be helpful for estate planning. Page 10


New Jersey's acquisitive Hubco is buying another Connecticut community institution, Westport Bancorp, its third recent deal in the state. Kenneth Neilson, Hubco's president and CEO, said the $68 million price, which is 2.56 times Westport's book value, was justified by the bank's trust operation and its cheap deposit base. Page 8

First Southeast Financial is about to pay out $10 per share this week in a one-time special cash dividend. Page 8


Wall Street has become the latest camp to embrace credit scoring for mortgages. And banks whose loans are securitized stand to benefit. Page 15

The Federal Housing Finance Board is providing nearly $47 million for low-income housing. Page 15


MasterCard said it is planning a six-month pilot test of its smart card technology in South Africa. Page 16

Transactive Corp. has appealed an adverse ruling in its protest of Citibank's recent contract award from the Western States EBT Alliance. Page 16


M&I Data Services said it would buy EastPoint Technology, a maker of client-server banking software. Page 18

Wells Fargo has begun using software that lets its employees send and receive voice messages and data over a single telecommunications line. Page 19


Chase Manhattan wrote a fairness opinion and helped bring together the principals in Westinghouse Electric's recently announced acquisition of Infinity Broadcasting. Back page

Comerica brought to market an issue of $250 million in adjustable-rate preferred stock with an unprecedented fixed-rate term of five years. Page 22

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.