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BUSINESS BRIEFS.(TO THE POINT)

Investor's Business Daily

| June 04, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

FINANCE

SEC subpoenas Wall Street firms

The SEC, NYSE and NASD have subpoenaed documents from many of Wall Street's top names as the investment banking probe shifts from analysts to their bosses, sources said. Individuals from 12 banks are under investigation, including Morgan Stanley CEO Philip Purcell, Merrill Lynch research head Andrew Melnick and ex-Credit Suisse First Boston CEO Allen Wheat.

** As regulators said at the time, probes haven't ended with April's $1.4 bil research settlement.

Visa's card volume reaches $1 tril

The 12-month total through March is greater than all its rivals together, including MasterCard, American Express and Discover. Over $38 out of every $100 spent is a credit or debit charge. And $12 of those happen on a Visa card. Most are regular credit card transactions, a third are debit and prepaid cards are a fast-growing sliver.

Banks adopting "green' principles

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