BOSTON - (03/13/06) In tribute to Charlie, thefictitious subway rider who couldnt get off the trainbecause he didnt have the exit fare, the Massachusetts BayTransit Authority has introduced a new electronic fare system.Remember the hit refrain, hes the man who neverreturned? Now Charlie will be able to get off the train asits approaches his Boston home, as long as he has the properplastic card. Charlies legacy, the CharlieCard, will enableriders on one of Americas oldest public transportationsystem to pay their fares by using electronic smart or credit/debitcards. The MBTA, known as the T to Bostonians, isphasing out coins and tokens and installing smart card dispensersat all of its stations. T officials hope to be fully automated bythe end of 2007.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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