Today's News

WASHINGTON

FDIC CHAIRMAN Ricki Helfer intensified her efforts to broker a deal for capitalizing the thrift insurance fund before Congress adjourns in October. Page 2

THE HOUSE rejected a surprise bid by a key lawmaker to block further expansion of national bank powers. Page 2

MORTGAGES

HIGHER RATES are expected to make it harder for Fannie Mae and Freddie Mac to increase earnings in the second half of the year at the current double-digit pace. Page 5

RECENT LAWSUITS could thwart lenders' efforts to wring more profit from their servicing portfolios, if the suits achieve class-action status. Page 5

REGIONAL BANKING

BANKS CANNOT dodge the bullet forever on merging the deposit insurance funds, writes William Isaac. Page 8

COMMUNITY BANKING

CAPITAL WEST, a new California investment bank, made its first deal with a start-up community bank. Page 9

CREDIT/DEBIT/ATMs

ENDING THEIR discord over logotypes, MasterCard and its affiliate Europay International made a deal that promises MasterCard the name recognition it has long sought in Europe. The Europay agreement, said MasterCard president H. Eugene Lockhart, would be a "template" for cooperation with MasterCard organizations in other parts of the world. Page 16

CROWNING an effort to streamline product names, Visa is revising logo designs to give "Visa" top billing. Page 16

INVESTMENT PRODUCTS

TESTIMONY from a Consumers Union lawyer asked Congress to enact laws protecting investment products customers of banks. Page 10

DELAWARE GROUP, backed by its new corporate parent, has begun a campaign to double its assets by 2000. Page 11

COMPLIANCE

FIRST BANK System is leading a movement to make compliance every employee's duty. Page 15

GOING ON-LINE can cause regulatory trouble if banks don't require compliance officers to review materials before they are posted on a Web site. Page 15

TECHNOLOGY

A SMALL CADRE of financial institutions is working to extend the ideal of community banking to cyberspace by offering low-cost Internet access. Page 17

BISYS AND FISERV have increased their revenues faster than any other bank outsourcers, 471% since 1988. Page 18

FINANCE

J.P. MORGAN won the lead advisory and lending assignments in the $1.3 billion buyout of MGM. Back page

BIG-BANK STOCKS again outperformed the market, and analysts painted the industry as a leader. Back page