Bad advice -- but who does better?

(MONEY Magazine) – THREE CHEERS FOR YOUR May Money Monitor article on poor investment advice from banks. It's about time you gave credit -- or should I say "no credit" -- where it is due. Let banks spend more time on analyzing good and bad loans and leave the investment business to the professionals. Jeffrey D. Omansky, C.F.P. Framingham, Mass.

CONSUMERS CAN COUNT ON the fact that some 7,500 banking examiners will be enforcing the mutual fund guidelines developed jointly by banking's federal regulators, but who is looking at the sales practices of banking's competitors, the brokerage houses and the fund companies themselves? Why not send your testers to the other guys next? We think the banks will compare favorably. Donald G. Ogilvie Executive Vice President American Bankers Association Washington, D.C.