WASHINGTON

THE FDIC ruled that most stored-valued cards do not qualify for deposit insurance coverage, but it said banks could devise a card to qualify. Page 2

FEDERAL REGULATORS are considering whether to give more weight to merger savings, which could make it easier for banks to complete in-market deals. Page 4

COMMUNITY BANKING

THE NEW CEO of Southern California's Professional Bancorp said he's ready to get his company back on track after a bitter proxy battle toppled his predecessor. Page 10

U.S. INVESTIGATORS have seized more than $22 million in deposit accounts at Florida's BankAtlantic as part of a money-laundering probe. Page 10

MORTGAGES

GREEN TREE Financial, which is dominant in financing manufactured housing, set in-house records for originations and earnings in the second quarter. Page 12

A NEW HANDBOOK on lending to low-income homebuyers makes the case for its profitability. Page 12

CREDIT/DEBIT/ATMs

CRAIG FRUHAN, manager of Intel's purchasing card program, has a bone to pick with bankers. Although his program saves Intel $70 to $80 per transaction, or $6 million a year, Mr. Fruhan says the banking industry is slow to respond to the specific needs of global corporations and makes "promises it can't keep." He'd switch providers to get his needs met. Page 20

INVESTMENT PRODUCTS

COLONIAL GROUP, which recently lost its status as the top seller of funds through banks, named its fourth head of bank sales in as many years. Page 14

PNC, one of the banking industry's leading sellers of investments, is mulling plans to telemarket a variety of life and property insurance policies. Page 14

TECHNOLOGY

THE FED's district banks have begun converting their book-entry services to a single system in an effort to reduce costs. Page 22

MICHIGAN NATIONAL has agreed to license software from Checkfree that will let the bank's cash management customers gain access to and manipulate accounts through a single "window" on a personal computer. Page 22

FINANCE

TWO CANADIAN utilities are tapping U.S. investors for syndicated loans totaling $3.8 billion. Back page

BANK STOCKS fell again Tuesday with the falling general equity markets, but the sector continued to outperform the broader indexes. Back page

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.