Today's News

WASHINGTON

THE RECENT fair-lending settlement in a California case is short on detailed compliance instructions. Page 3

REP. JIM LEACH's bill would overturn a new rule prohibiting bank employees from receiving compensation for loan referrals to mortgage subsidiaries. Page 3

REGIONAL BANKING

BANK MARKETERS are gaining in organizational stature - and getting the budgets they feel they need to wage those battles. Page 4

COMMUNITY BANKING

BANKER PIQUE at the Farm Credit System is running especially high in Michigan. Page 6

A FAVORABLE tax ruling has nudged forward an anticipated bank spinoff from Cole Taylor Financial Group. Page 7

SMALL BUSINESS

GREAT WESTERN has jumped into the crowded market for small-business loans, boldly predicting it will hold $1 billion in such loans within three years. Page 8

BANC ONE plans to launch a nationwide, direct-mail campaign to sell credit lines. Page 9

FUTUREBANKING

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INVESTMENT PRODUCTS

SOUTHERN NATIONAL's principal banking unit has scored four-star ratings from Morningstar on four of its seven BB&T Funds. Page 12

BESSEMER TRUST's opening of a San Francisco office, on the heels of a May opening in Los Angeles, underscores its push to become a premier private bank on both coasts. Page 12

MONEY MANAGERS are on the prowl for acquisitions to broaden their appeal, speakers at a trade conference said. Page 13

CREDIT/DEBIT/ATMs

CHASE MANHATTAN and Shell have announced a premium upgrade of the Shell MasterCard to gold. Page 14

PEOPLE'S BANK, long resistant to cobranding, is taking the plunge with a store card for two discount clothing chains. Page 14

TECHNOLOGY

BANK TECHNOLOGY stocks surged for the week amid economic news that allayed fears of a Fed interest rate hike. Page 16

A MINORITY shareholder in Broadway & Seymour is loudly opposing a plan to give stock options to company executives. Page 16

MARKET MONITOR

A SUBPRIME home equity lender in California has made a splash on Wall Street, posting higher-than-expected earnings for nine consecutive quarters. Page 23

A RECESSION is likely soon, said a New York economist who forecasts a weak fourth quarter this year and three quarters of negative performance next year. Page 23

FINANCE

INVESTORS SHOW a strong appetite for auto-loan backed securities, now that issuance of credit card- and home equity-backed debt has slipped. Page 30

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