WASHINGTON The comptroller and the FDIC chairman contested the Fed argument that deposit insurance gives direct bank subsidiaries an unfair advantage over nonbank competitors. Page 2 Compromise rules to curb the investment powers of corporate credit unions are expected Friday from the NCUA. Page 3 COMMUNITY BANKING Pinnacle Financial Services of Michigan has its third deal since 1995 to buy a thrift in the booming northwest Indiana market. Page 6 A strong community bank in central Florida wants to buy a struggling thrift in St. Petersburg nearly twice its size. Page 6 INTERNATIONAL From high rise outposts in Miami, big regional banks are looking south to Latin America. Page 7 INVESTMENT PRODUCTS PRIVATE BANKING: Brown Brothers Harriman is embracing a novel fixed-income strategy: proprietary mutual funds tied to the inflation rate. Page 8 REGIONAL BANKING Acquisitions will continue to be crucial to profitable growth, regional bank CEOs said at a conference. Gerry B. Cameron acknowledged that he'd been approached about selling his U.S. Bancorp in Oregon. "Everybody's talking to everybody about everything," he said. Page 4 MORTGAGES Pennsylvania's Commonwealth Bancorp is bulking up its home-lending operation along the Boston-D.C. corridor. Page 9 Washington Mutual, expected to make a bid of its own for Great Western Financial, is probably looking at how it could shrink costs and increase revenues. Page 9 CREDIT/DEBIT/ATMs DELUXE DATA, which has accused Visa of stealing trade secrets, was denied an injunction. Page 10 American Express promoted a veteran to president of the new unit aiming for deals with banks. Page 10 MARKET MONITOR Investors have become gun-shy when it comes to buying bank corporate paper since the Fed chairman subtly threatened to raise interest rates. Page 16
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