WASHINGTON The Fed proposed a staff commentary explaining disclosure rules on consumer leases. Page 2 Rep. Spencer Bachus fired off two letters requesting more information for his investigation into Comptroller Eugene A. Ludwig's involvement with Democratic fund-raising. Page 3 REGIONAL BANKING Alabama banks are calling for changes in a Florida law that bars state banks based elsewhere from taking public deposits in the Sunshine State. Page 4 COMMUNITY BANKING KEYCORP has a deal to sell off some more rural New York State branches. The would-be buyer this time is Community Bank System, based near Syracuse. Page 6 INVESTMENT PRODUCTS turnover among portfolio managers is expected to remain unusually high at least until midyear. Page 8 CREDIT/DEBIT/ATMs DAVID VAN LEAR announced his retirement as chief executive officer of Electronic Payment Services, parent of the MAC automated teller network. Since 1993, the former Banc One executive steered the company in new high-tech directions that his successor said were "more splash than substance." Page 12 Royal Bank of Canada has hired a Banc One credit card veteran to oversee its card services division. Page 12 MORTGAGES The tide of class actions may have turned in mortgage lenders' favor. Page 10 TECHNOLOGY Open Market Inc., which aids banks and other enterprises in doing electronic commerce over the Internet, bought Waypoint Software, which helps companies post technical catalogues there. Page 14 CORPORATE FINANCE Banks no longer need to lure institutional investors into the syndicated lending market with high yields and favorable terms. Page 21 CIBC Wood Gundy is gearing up to make a push in health-care financing. Page 21 MARKET MONITOR As bank stocks helped the broader market roar to new heights, Wall Street turned a cold shoulder to the shares of newcomer Reliance Acceptance Group. Page 22
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