WHITEWATER FIGURE INDICTED

A grand jury investigating the Whitewater affair today charged a former Arkansas bank president with failing to report more than $50,000 in cash withdrawals by President Clinton's 1990 gubernatorial campaign. Neal Ainley, former president of Perry County Bank in Arkansas, faces five felony counts for not reporting the transactions to the IRS and federal bank regulators, as required by law. The indictment does not include any charges against the campaign, whose treasurer was Bruce Lindsey, now a top White House aide. It also does not indicate why Ainley would have wanted to conceal the withdrawals. "It reminds us that Whitewater is by no means dead," says TIME Washington correspondent Suneel Ratan. If convicted on all charges, Ainley would face a maximum of 40 years in prison and $1.75 million in fines.