Senate Banking Chairman Alfonse M. D'Amato went on the warpath again over the spread of ATMsurcharges. Page 2


Union Planters said it would streamline its branches, eliminating 600 jobs. Page 4


Cross-industry transactions such as the recent Citicorp-Travelers Group deal worry community bankers more than megabank mergers do. Page 6


Investors' wariness of prepayment risk is spurring demand for nontraditional mortgage-backed securities, according to investment bankers at a secondary market conference. Page 7


One portfolio manager does not think big banks necessarily offer investors top value. Page 22

First Union tapped executive vice president Charles Coltman to head global corporate banking, succeeding former CoreStates chairman Terrence A. Larsen. The loss of Mr. Larsen, who is scheduled to step down July 1, is seen as severing some of the ties the bank pledged to maintain with Philadelphia. Back page


The development of retirement savings plans in Europe is a $15 trillion opportunity for asset management firms. But for American companies, the barriers to entry are high, a Fidelity executive says. Page 8

INSURANCE: Citicorp Life Insurance slashed the annual fees on its CitiVariable Annuity from 140 basis points to 99. Page 9


First Chicago NBD executives say they purchased Detroit-based Roney & Co. for the firm's regional brokerage network, but they got an equity underwriting bonus. Page 10


Morgan Stanley, Dean Witter is adding an Internet access option to its Discover card package. Page 12


ELECTRONIC COMMERCE: The OBI Consortium, a group promoting standards for business-to-business commerce over the Internet, has turned to CommerceNet for management support. Page 14

Verifone said a compact appliance it developed, the PayPort, is ready to link consumers to financial and other services over the Internet via personal computers. Page 14

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.