While in browse mode, expose the data formatting tool bar and select the text inside the field. What font is indicated then? Can you change the text's font by selecting Arial now?
Just wondering if the data in the field might be formatted as Times New Roman as this would supercede the formatting on the layout's field.
I did this and it still says Arial. I restarted my computer and the problem went away. I'm thinking it's a Windows issue. Hopefully it's gone for good. Odd though how FM was the only program affected.