Today's News

WASHINGTON The House Banking chairman and the House Commerce Committee's ranking Democrat accused Comptroller Eugene A. Ludwig of overreaching his authority to expand national bank powers. Page 2 A case before the Guam Supreme Court could make it more difficult for institutions to extend credit in states and territories where they do not have offices. Page 3 TECHNOLOGY Sterling Commerce announced a new line of software products to help banks move their item processing systems from paper to electronics. Page 5 REGIONAL BANKING SunTrust profits rose 7% in the first quarter. Page 7 CORPORATE FINANCE KeyCorp is buying control of Leasetec, a Colorado computer and telecommunications equipment leasing company. Page 9 Fleet hired the head of Brown Brothers Harriman's Boston-based mergers and acquisitions business to lead its own nascent M&A unit. Page 9 COMMUNITY BANKING A group controlled by James F. Dierberg, president of St. Louis-based First Banks, acquired 8.6% of SierraWest Bancorp in California. It's the latest twist in Mr. Dierberg's three-year effort to expand beyond the Midwest. "It seemed like a good buy, so I bought it," he says. Page 8 United Security Bancorp. of Spokane restated 1996 earnings downward, blaming a former senior officer who it says embezzled almost $700,000. Page 8 MORTGAGES North American Mortgage has had its ups and downs over the last few years, but now it is thriving with a new business strategy. Page 10 To POLISH its offer for Great Western Financial, H.F. Ahmanson posted robust first-quarter earnings a week ahead of schedule. Page 11 INVESTMENT PRODUCTS LAst week's stock market whirl prompted mutual fund companies to update their telephone hot lines for jittery investors and financial advisers. Page 12 Barnett asked a federal court to disqualify the plaintiffs' lawyer from a class action against it. Page 13 CREDIT/DEBIT/ATMs CARD FRONTIERS: Four of Verifone's smart card experts have gone into the consulting business o without leaving the company. Page 14 AT&T Universal is going nationwide with a credit card for owners of small businesses. Page 15 MARKET MONITOR Morgan Stanley upgraded MBNA to "strong buy" from "outperform," predicting the credit card specialist can maintain earnings growth this year despite growing delinquencies. Back page