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Some institutions will not take Cal IOUs after Friday
Many California credit unions will accept state IOUs – formerly called registered warrants - even though many banks say they will take the IOUs only until Friday, July 10. But some entrepreneurs are...
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Banks cut small-firm lending by $1 billion
The nation’s largest banks cut their loan balances to small business by another $1 billion in October, CNNMoney.com reports. The data come from the Treasury Department report released Dec. 15. Here’s...
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Importer sues BofA over $50,000 wire transfer
A small glassware importer is suing Bank of America for processing a fraudulent $50,000 wire transfer to Croatia and then refusing to refund the money to the company’s account. Bank of America...
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Bank commits to spend $10 billion at small biz
Bank of America has promised to increase its purchases of products and services from small to mid-sized businesses and with those with diverse ownership. BofA, one of the world’s largest financial...
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Sam’s Club gets into the loan business
Sam’s Club, the membership discount warehouse division of Walmart Stores Inc., is testing an online program with Superior Financial Group to make loans of $5,000 to $25,000 to its member small...
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BofA to hire 1,000 small-biz bankers
Bank of America says it will hire 1,000 small-business bankers by 2012, Reuters reports, returning to customers it virtually abandoned in 2008. Before the recession, Bank of America was one of the...
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