Today's News

WASHINGTON

Year-2000 glitches in the global financial infrastructure could leave even well-prepared U.S. banks vulnerable to problems, witnesses at a House Banking Committee hearing said. Page 2

REGIONAL

Banc One is wasting no time in considering branch closings to put First Commerce, its new Louisiana banking house, in order. Page 4

Developing a broad-based relationship with retail customers offers huge payoffs for banks, but also a host of headaches, speakers at a conference said. Page 4

COMMUNITY

A slowdown in the construction and tourism industries could affect the lending portfolios of Nevada community banks, the FDIC cautioned. Page 7

MORTGAGES

Lenders are wrestling with the question of when to notify borrowers of an expansion July 6 of the flood plain in several California counties. Page 9

DIGITAL FRONTIERS

SMART CARDS: ReadiMondex software, which helps retailers accept Mondex payments on-line, will operate in tandem with Microsoft's ActiveStore system framework. "We are targeting retailers who are large cash-based merchants and who are rapidly moving to client/server technology," says Janet Crane, Mondex USA president and CEO. Page 12

INVESTMENT PRODUCTS

Charter One plans to hang out its shingle as a broker-dealer after it wraps up a pair of acquisitions in October. Page 11

CARDS

Oasis Technology, a Canadian vendor of on-line processing software, is making its debut in the United States. Page 13

TECHNOLOGY

CIBC is enlisting college students in an unusual program designed to help ensure its small-business lending customers are year-2000 compliant. Page 14

Bowne & Co., a 223-year-old financial printer, is transforming itself through acquisitions into a provider of Internet banking software. Page 15

CORPORATE FINANCE

Credit Suisse First Boston is bringing a leveraged $1.28 billion loan to market for Ispat International, a global steel company. Page 25

MARKETS

Wachovia and TCF Financial rose on buyback announcements, but investors were warned to temper their enthusiasm. Back page

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER