The Community Reinvestment Act, which turns 20 years old this month, remains every bit as controversial as when adopted. Bankers say the law is superfluous and burdensome, while activists contend that CRA has worked well. Page 4

WASHINGTON

Delaying a controversial decision, the Office of Thrift Supervision said will take an extra 30 days to rule on a charter application from Travelers Group.Page 2

COMMUNITY BANKING

Community bankers who empower employees to make decisions have a competitive edge, writes columnist Paul Nadler. Page 5

REGIONAL BANKING

First Tennessee says telecommuting and other family-friendly programs have helped it retain employees, keep customers happy, and save millions of dollars. Page 8

CORPORATE FINANCE

Bankers Trust's and BankAmerica's securities arms have assembled financing to fund the buyout of Kinetic Concepts, which makes therapeutic beds. Page 9

TECHNOLOGY

Before changing its name, the Michigan Automated Clearing House Association would sometimes get strange questions over the phone. Page 12

SunGard Data Systems said its $318 million deal to acquire Infinity Financial Technology was driven by increasing demand from banks for risk management and derivatives software. Page 12

INVESTMENT PRODUCTS

Four leading lights in bank insurance sales talk about how to succeed in the business. Page 16

KeyCorp plans to offer health insurance and commercial property and casualty insurance to its small-business customers by the end of 1998. Page 16

CREDIT/DEBIT/ATMs

Some credit card processors are moving to client/server technology, which is seen as more flexible, easier to manage, and ultimately less costly than aging mainframe-based systems. Page 18

MARKET MONITOR

The Fed approved Wachovia's plan to buy Central Fidelity of Virginia. Page 26

LETTERS Page 10

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.