WASHINGTON On Sunday, interstate branching will be legal in nearly every state thanks to the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Page 2 Lenders objected to a government proposal that would prevent them from selling entire loans backed by the Small Business Administration. Page 3 Regulating smart cards, electronic banking, and other emerging technologies will not be easy, two researchers warn. Page 3 COMMUNITY BANKING Neighborhood Trust Federal Credit Union is trying to fill a void left by banks in a New York City neighborhood. Page 5 Chase Manhattan, continuing its effort to refocus on urban markets, is selling its smallest banking subsidiary to a Texas community bank. Page 5 CORPORATE FINANCE As the junk market swells with underwriters and investors, the size of issues is shrinking. Page 8 First Tennessee's capital markets unit has opened its fifth regional office, in Chicago. Page 8 MORTGAGES HUD decided to end a fraud-plagued program that insures home improvement loans arranged by construction contractors. Page 9 Texas bankers are celebrating the passage of legislation that could free up $100 billion-plus in home equity lending possibilities. Page 9 INVESTMENT PRODUCTS Countrywide Credit Industries, the largest independent mortgage company, is gearing to offer mutual funds to its borrowers. Page 10 Merrill Lynch chartered a federal savings bank to streamline the marketing of its burgeoning trust business. Page 10 Top financial planner Harold Evensky discusses a basic strategy for banks to get a bigger piece of the financial planning business. Page 10 CREDIT/DEBIT/ATMs AT&T reached out to California State University students with a multi- application campus card. Page 11 TECHNOLOGY Call centers may be the next bank area to face consolidation, according to a report from a New York research firm. Page 12 MARKET MONITOR H.F. Ahmanson's battle to buy Great Western Financial could boil down to the outcome of a hearing today in Delaware Chancery Court. Page 18 Two recent announcements by Moody's Investors Service illustrate how rising chargeoffs are becoming an increasing drag on asset-backed securities. Back page Chase Manhattan recently began marketing a new derivative that enables trading partners to avoid actually exchanging millions of dollars worth of foreign currency. Back page
Access to authoritative analysis and perspective and our data-driven report series.
No credit card required. Complete access to articles, breaking news and industry data.
Have an account? Sign In