Today's News

REGIONAL BANKING Great Western's leaders could reap millions from severance packages if the company accepted Ahmanson's takeover bid. Chairman James F. Montgomery stands to gain $23 million from stock options alone. Page 5 INVESTMENT PRODUCTS INSURANCE: Many banks are selling off their property-and-casualty insurance units, frustrated with the slim profits the business generates. Page 7 State Street Boston set up a joint venture with a Prague-based asset manager to offer its clients investments in emerging European markets. Page 9 COMMUNITY BANKING Front-line staff in customer service must be em-powered to solve problems, writes Paul Nadler. Page 11 TECHNOLOGY Another potential threat to Internet banking security has cropped up, this time in Germany. Page 16 Former quarterback Fran Tarkenton is trying to make a financial score on the Internet with a Web site that connects small businesses with a range of interactive financial services. Page 17 WASHINGTON Leslie Woolley, policy deputy to FDIC Chairman Ricki Helfer, is gearing up for the agency's next legislative priority: merging the bank and thrift funds. The former congressional aide, who joined the agency two years ago as one of the chairman's top two lieutenants, is "wonderfully dogged at staying on issues," says her boss. "She doesn't give up easily." Page 4 MORTGAGES The problems at Jayhawk Acceptance and Mercury Finance are unjustly tarring the overall asset-backed market, a portfolio manager asserts. Page 12 Some analysts say Ahmanson's hostile bid for Great Western may finally put California's Golden West Financial in play. Page 13 CREDIT/DEBIT/ATMs Scrapping for closer combat with established electronic banking organizations, Cartel Network won a second major trade association endorsement in its home state of New York. Page 14 American Express and Credit Lyonnais are reportedly close to a credit card comarketing deal, which would be a first for a French bank. Page 15 MARKET MONITOR Arguing that a continuation of the bond rally could lift bank shares still higher, Brown Brothers Harriman raised its short-term ratings of BankAmerica, Chase Manhattan, and Citicorp to "buy" from "hold." Back page