Today's News

WASHINGTON COMMUNITY banks are critical of a plan that would require bankers who sell securities to get brokerage licenses. Page 2 BANKS ARE WORRIED about state legislation that would require them to help collect child support from deadbeat parents. Page 3 COMMUNITY BANKING The former head of a big Chicago community bank is hoping to start a bank network in the suburbs. Page 6 though California's unique thrift and loan industry appears on its last legs, some insist it will endure. Page 6 MORTGAGES The nation's second-largest mortgage bank has joined the system that electronically tracks mortgage ownership. Page 7 INVESTMENT PRODUCTS First Union hired 22 Essex Financial annuity wholesalers to bring sales efforts closer to home. Page 8 Quick & Reilly launched a TV campaign promoting its on-line trading program. Page 8 REGIONAL BANKING Robert E. Lowder, the head of expansionist Colonial BancGroup in Alabama, is in love with Florida. "There are so many people down there," he muses, "so much growth opportunity." The Sunshine State is crucial to his plan for tripling assets to $15 billion in the next few years. Page 4 CREDIT/DEBIT/ATMs CARD FRONTIERS: Hewlett-Packard is unveiling the first products of a smart- card alliance with France's Gemplus and the data base firm Informix. Page 9 TECHNOLOGY A year after NationsBank introduced PC banking, its program still faces operational problems. Page 10 CORPORATE FINANCE interest in the gaming industry has pushed a $1 billion syndicated credit for Mirage Resorts up to $1.75 billion. Page 17 Societe Generale has hired a NationsBank executive with ties to some of the largest leveraged buyout firms. Page 17 MARKET MONITOR The need to speed up share buybacks has spurred some financial innovations. Page 18 Reliance Acceptance is the latest lender to succumb to the asset deterioration plaguing subprime auto finance. Page 20