Today's News

WASHINGTON

In a filing with the Supreme Court, the American Bankers Association unveiled new ammunition for the industry's fight to limit credit union membership. Page 2

TECHNOLOGY

With losses mounting, electronic commerce companies have fallen from favor on Wall Street. "The bloom is off the rose," one analyst says. Page 6

MORTGAGES

Reverse loans were designed to let cash-strapped older people stay in their homes. A new structure is making the loans useful to buy homes too. Page 14

Twenty-fivE ex-Fleet Mortgage employees in the Midwest have set up their own home loan firm. Page 15

INVESTMENT PRODUCTS

The Wells Fargo deal with Dean Witter is a two-way street. Page 16

KeyCorP was pulling trust personnel out of Alaska but reversed course when the state adopted a trust law with unusual protection from creditors. Page 16

REGIONAL BANKING

TCF Financial of Minneapolis has usually entered new areas by buying underperformers. Not this time. Page 10

Sovereign Bancorp's deal to buy Fleet's auto finance division is a way for Jay Sidhu to bulk up the Pennsylvania thrift's auto portfolio from Virginia to Connecticut. "We want to be the biggest in the region," the chief executive says. Page 10

CORPORATE FINANCE

BT Securities last week helped the Mexican government complete its first sale of problem loans to Dallas-based Amresco. Page 22

CREDIT/DEBIT/ATMs

Two shareholder lawsuits accuse Advantaof fraud. The plaintiffs claim management of the card company intentionally misled investors about credit quality. Page 23

A British company is promoting an ATM security system that makes digital tape recordings for a sharper look at customers and criminals. Page 23

MARKET MONITOR

The prospect of a summer interest rate hike by the Federal Reserve seems to be fading. Page 29

WEEKLY REPORT: SMALL BUSINESS

A former president of Fannie Mae has formed a company to expand the fledgling activity of securitizing bank loans to small businesses. Page 20

CoreStates is offering a lower interest rate on revolving credit lines linked to borrowers' business checking accounts. Page 20

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