Today's News

THOMAS O. BENNION has engineered a series of mergers that have driven his Honor ATM network to the top ranks-and he's not finished yet. Page 16

REGIONAL BANKING

Multiregional KeyCorp is claiming a first: It has pared down its dozen banks across 14 Northern Tier states to one: KeyBank. Page 7

COMMUNITY BANKING

Three directors of a defunct bank in rural Indiana have persuaded a congressman to launch an investigation into its closing by federal regulators. Page 10

CORPORATE FINANCE

KeyCorp is leading a $115 million loan backing Simon DeBartolo Inc.'s construction of a retail center in South Miami. Page 12

INVESTMENT PRODUCTS

Delaware's new trust statute may need sprucing up when the state's legislators reassemble. Page 13

MORTGAGES

Barnett will transfer most wholesale lending operations to HomeSide, the retail mortgage giant it co-founded. Page 14

HFS IS LAUNCHING a joint venture that could propel its subsidiary, PHH Mortgage Services, into the upper echelon of the nation's mortgage originators. Page 15

TECHNOLOGY

WIRED BILLING: It's tough to get the paper out of payments-even consumer payments made by PC or phone. Most still end up as paper checks sent through the mail. Page 18

MARKET MONITOR

Mercury Finance remains alive, but very frail. The ailing subprime auto lender belatedly disclosed a first-quarter loss of $33.2 million. Back page

WEEKLY REPORT: INTERNATIONAL

Thanks in part to favorable tax laws, Ireland has emerged as a high-tech and financial services haven for international companies. Page 8