A decade ago Stephens Inc. was perhaps the nation's premier regional investment bank. Now the Arkansas-based firm is remaking itself for a role in the radically altered financial services universe, says CEO Warren A. Stephens. Back page


With the Senate Banking Committee's vote on financial reform legislation put off until September,lawmakers are negotiating to make the controversial bill more amenable to bankers. Page 2

Federal regulators told Congress that they strongly support letting banks pay interest on business checking accounts, but they differed on when the new power should be implemented. Page 3


KeyCorp, PNC Bank, and BankBoston announced strong second-quarter results thanks to gains in fee income. Page 4

Two highly regarded Glendale Federal executives have been appointed to the new California Federal's management team. Page 5


LaSalle Financial Partners of Michigan has increased its stake in a California thrift and may try to force its sale. Page 6


The CEO of HomeSide Lending, who recently moved to Australia after the company was acquired, has a mission: to create the first international mortgage company. Page 7


Gartmore Global Partners, the joint venture of NationsBank and a British asset manager, has hammered out a new five-year plan that puts more capital and resources into the partnership. Page 11


Hoping to build on their reputation for private banking leadership, Swiss banks are developing Internet capabilities for wealthy clients. Page 12


With the deadline for commitments passed, J.P. Morgan expects to keep as much as $700 million of a $2.25 billion loan for Meditrust on its books, market sources said. Page 21

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