The FDIC. approved its 1997 budget, cutting 8% from this year's spending. Page 2

Alfonse M. D'Amato, chairman of the Senate Banking Committee, sharply criticized Swiss banks for the way they have handled the assets of Holocaust victims. Page 3


Comerica is drawing near the end of a six-month effort to slash costs, and Wall Street is getting ready to scrutinize the results. Page 5

Texas' Temple-Inland has a $150 million deal to buy a California thrift. Page 5


The Genesis hedge fund agreed to withdraw hostile proposals and let a Philadelphia-area thrift alone after an unusual transaction akin to "greenmail." Page 9

A Maryland bank is suing a shareholder group it says illegally amassed its stock. Page 9


Commercial banks are slowly gaining market share in the business of selling short-term investments to companies looking to temporarily park their cash. Page 10

Bankers looking to fill in investment-style gaps in their mutual fund families are finding more and more money managers ready to take on the job. Page 10


A Pennsylvania community bank is selling its portfolio of 72,000 credit card holders to MBNA. Page 12


Technology took center stage at BAI's retail delivery conference. Michael C. McChesney, who heads the company behind the Security First Network Bank on the Internet, predicted that the hot item at next year's in New Orleans will be multimedia call centers that can handle and route telephone, E-mail and Internet video requests. "The No. 1, 2, and 3 Internet devices are going to be the browser telephone, the browser television, and the browser PC," he said. Page 14

Home Financial Network, known for the simplified approach that's been called "home banking lite," is offering versions of its HomeATM software for the Internet. Page 14


First American Financial is hoping that large mortgage banks will be less wary of its recently acquired on-line servicing system now that it is in steadier hands. Page 17

Mortgage lenders can now order private mortgage insurance directly through Freddie Mac's automated underwriting system, Loan Prospector. Page 17


Lehman Brothers added three midsize banks - Summit in New Jersey, First of America in Kalamazoo, and First Security in Salt Lake City - and to its coverage list and rated them "outperform." Page 21

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.