BOSTON - (06/28/06) As many as 400 street-toughs togun collectors traded in their firearms at their local policestation over the past month for a $200 gift card to Targets underthe Boston Polices gun buyback program, aimed at curbingstreet violence. Boston CU stepped in with a $5,000 donation as theprogram was running out of money. The Mark Wahlberg YouthFoundation also kicked in $10,000. Among the guns handed in so farare: Ruger .22 calibr rassault rifle; a Civil War replicablack-powder revolver; and a Walter PPK, the preferred gun forJames Bond. Most of the guns were handed in by young men, but agrandmother turned in two pieces she found in her grandsonsroom.
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A coalition of Democratic attorneys general, led by California and Illinois, have sued the Department of Housing and Urban Development over a guidance that they argue will scale back enforcement to strict federal standards and threaten state funding to enforce fair housing laws.
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CEO René Jones told American Banker that private-credit firms are both partners and competitors. "Today, one of the concerns is that we don't have that full transparency, as much as we would like. And so we have to be cautious as we move in that direction," he said.
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The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.
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A federal judge ruled that acting Consumer Financial Protection Bureau Director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.
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A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.
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