SPRINGFIELD, Ore. - (09/03/04) -- Northwest Community CU said it beganmaking small micro-business to enterpreneurs selling goods atMercado Latino, the outdoor market for food, crafts and gifts, heldin Eugene on Sunday, from June through September. The fund has$5,000 and is administered by the Neighborhood Economic DevelopmentCorp., the local non-profit that sponsors the Latino market.Merchants can borrow up to $500 interest-free to buy equipment,supplies or marketing materials. The credit union made its firstloan of $500 to a Salem-based maker of Peruvian-style chocolates tobuy a tempering machine, used to melt bulk chocolate so it can bepoured into molds.
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The Federal Reserve authorized a bid by Morgan Stanley to incorporate its German investment bank under its U.S. bank subsidiary. Three Biden nominees on the Fed board dissented, citing concerns that the move could heighten risks for the U.S.-based investment banking giant.
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In three separate appearances Thursday, Fed Gov. Lisa Cook, Gov. Michael Barr and Vice Chair Philip Jefferson said they are worried that U.S. involvement in the war with Iran could drive up inflation, leading them to conclude that interest rates should remain steady in the near term.
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Federal Reserve Gov. Stephen Miran on Thursday detailed a plan to reduce the central bank's balance sheet, saying a smaller footprint would reinforce policy boundaries but could also bring more market volatility.
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The Canadian bank laid out its rationale Thursday for opening new branches in California. The objective is to increase density in the Golden State, and subsequently achieve greater market share and higher returns.
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The legislation would grant the Consumer Financial Protection Bureau, among other agencies, more oversight of airline-branded credit cards and rewards schemes.
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PayPal, Stripe, Visa and Mastercard must be vigilant against offboarding clients for political or religious reasons, the Federal Trade Commission warned Thursday.
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