WASHINGTON
Thomas C. Melzer, president of the St. Louis Fed, unexpectedly resigned at age 52. The former Morgan Stanley managing director said he didn't want the Fed job to be the final challenge of his career. Page 2
The ABA is trying to transform its annual convention from a weekend party to a serious school for senior executives. "These workshops are about new ideas and new things being done in the industry," says G. Thomas Andes, chairman and CEO of Magna Group in St. Louis. "It is a very good move." Mr. Andes last attended an ABA convention three years ago. Page 2
REGIONAL BANKING
First Virginia is buying seven Signet branches and $150 million of deposits. The price wasn't disclosed. Page 5
COMMUNITY BANKING
Two directors of a California community bank that was sold in 1989 have raised more than $5 million to start a bank with the same name - Southwest Community Bank. Page 7
MORTGAGES
Conservative Long Island Bancorp is said to be revamping its consumer lending unit to develop more niche business - including subprime lending. Page 8
Chase withdrew a suit alleging Dime illegally hired away dozens of Chase mortgage employees. The companies said they had reached a settlement. Page 9
Brisk home sales in California are seen reaffirming a brighter outlook for several mortgage companies with exposure there. Page 10
TECHNOLOGY
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Cash management operations are shaping up to be the early beneficiaries of banks' investments in data mining technology. Page 13
A company called Mr. Payroll is trying to persuade banks to buy a check- cashing machine that doubles as an automated teller. Page 13
CREDIT/DEBIT/ATMs
How should electronic commerce be regulated? Well, the tangled history of regulating ATMs offers an object less on in how not to do it, an adviser to the FTC chairman writes. Page 14
MARKET MONITOR
Shares of little Pinnacle Banc Group in Chicago surged after a Kentucky brokerage rated it as one of the nation's most undervalued banking companies. Back page
BankBoston's deal to buy Deutsche Bank's retail business in Argentina contains an unprecedented clause to protect the U.S. company from liability for any World War II accounts that may turn up. Back page
