It's been a year since Chase Manhattan created a distinct company to handle investment management for institutional clients. Today, the unit is ready to make its mark, says Stephen E. Prostano. That story and more in this special report on trust and investments. Pullout section


Industry officials have a blunt message for Fed staffers revising the Truth-in-Lending Act rules: Propose substantial changes or don't bother at all. Page 2


Unsatisfied with new federal guarantees, California bankers pushed through legislation protecting unsecured lenders and fiduciaries from liability for toxic waste cleanup under state or local law. Page 7

Two Wisconsin institutions are shedding their current charters for better-fitting ones. Page 9


NationsBank developed its own credit scoring system to help it target small businesses. Page 12


The long-awaited consolidation of Missouri banks is in high gear, and observers are wondering aloud what banking company will be merging next. Page 14

First Union has raised the bar for its financial performance for the first time in several years. The Charlotte, N.C.-based banking company will modestly increase return on equity and other profitability benchmarks by 2000. Chairman Edward E. Crutchfield said the new profitability goals are part of a three-year strategic plan following its acquisition of First Fidelity Bancorp. "Acquisitions now go from being a strategic necessity in the past to an option in the future," he said. Page 14


In an unusual move, Norwest put its chief insurance executive in charge of a new unit that will handle both insurance and investment product sales. Page 16


RSA Data Security is releasing a software development package that it says will bring secure Internet payments a giant step closer to reality. Page 18

Fifth Third is issuing the Plane & Pilot Visa card, a no-fee card aimed at 120,000 pilots who own their own planes. Page 18


The number of U.S. thrifts fell below 2,000 in the first half to the lowest level in decades, while assets of the top 300 thrifts climbed by $17.2 billion. Page 20


A slight rebound in the stock market could not keep investors from sending bank technology shares falling for the second straight week. Page 34

Bank of Boston embarked on an upgrade of its check imaging system that should lead to a bankwide imaging and document archive system. Page 36


Economists expect short-term interest rates to edge up a bit by a year from now, according to the latest American Banker Yield and Rate Survey. Page 47


Chase Manhattan continues to land high profile investment banking assignments. Back page

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