BANKING & FINANCE - July 20, 1993

Bank Regulator Issues Fund Guidelines: Reacting to soaring sales of mutual funds through banks, the Comptroller of the Currency urged banks to spell out to customers that mutual funds are not federally insured like conventional bank deposits. The comptroller’s office also urged banks to prevent tellers from dispensing investment advice. The guidelines, which are not as strict as regulations but which banks are expected to follow, cover the nation’s 3,600 nationally chartered banks.