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Wednesday's Bank Stock Wrap

Banks Rise on Interest Rate Comments

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Financial stocks outperformed the overall markets Wednesday, with the sector lifted by a Federal Reserve official's comments that interest rates could stay flat until 2012.

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Facebook's securities filings show its Facebook Credits digital currency business is exploding. Does it pose a serious threat to banks?
Yes. Facebook Credits threatens to cut off banks from transactions and customer data.
No. A system the enables users to pay for online games and page upgrades is a harmless niche.
Maybe. It depends on whether Facebook makes an aggressive move into ecommerce.
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