WASHINGTON As the battle over credit union expansion simmers, one question keeps popping up: Do credit unions have a better record serving low-income consumers than banks? Page 3 Trade groups presented a united front in urging Congress to break down barriers between financial firms - but nettlesome differences lurk beneath the surface. Page 3 REGIONAL BANKING After CLAIMing in ads that California's big banks ignore their communities, Glendale Federal now finds itself under a similar attack. Page 4 Does the head of Green Tree Financial deserve to be paid more than any other chief executive of a U.S. publicly owned company? Two institutional investors don't think so. Page 5 COMMUNITY BANKING Mergers of equals can be fraught with problems, but that isn't stopping community banks from embracing them. Page 6 MORTGAGES Source One Mortgage Services is taking an integrated approach to reducing rate risk. Under chairman Terry L. Baxter, it plans to capitalize on the outsourcing trend in servicing and to expand and streamline originations. "There is no cookie-cutter approach out there to mortgage banking," he says. Page 8 Resource Bancshares Mortgage Group and North American Mortgage both reported declines in net income for the fourth quarter. Page 9 INVESTMENT PRODUCTS American banks increasingly are turning to their foreign counterparts for help in expanding sales of the mutual funds they manage. Page 7 CREDIT/DEBIT/ATMs Banc One will have a dilemma when it completes its planned merger with First USA: two competing merchant processing units. Page 10 The urgency to complete the credit card security protocol for Internet payments may be a case of hurrying up just to slow down. Page 11 CORPORATE FINANCE Banks are finally expecting a payday for their work on the $13 billion Norfolk Southern loan. Page 21 Merrill Lynch shuffled senior personnel in its high-yield, bank loan, and private equity operations to beef up its leveraged finance operations. Page 21 MARKET MONITOR Bank debt issuance surged in January with a strong assist from foreign banks. Back page Turmoil in the subprime auto sector continued as Jayhawk Acceptance Corp. said it is filing for bankruptcy. Fleet's demand for immediate repayment of a $65 million loan prompted the move. Back page
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