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Economy

Credit card debt drops to lowest level in 8 years

NEW YORK — The amount consumers owed on their credit cards dropped to its lowest level in eight years, as cardholders continued to pay off balances in the uncertain economy.

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Re-defaults on modified mortgage loans falling

BOSTON — Homeowners who had mortgages modified recently are faring better than those who did so earlier in the housing crisis, according to a report released Tuesday, possibly debunking predictions of a huge wave of defaults to come.

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AIG repaying nearly $4B in federal loans

WASHINGTON, D.C. — In its single biggest repayment of bailout loans so far, American International Group Inc. said Monday it is paying back nearly $4 billion in taxpayer aid with proceeds from a recent debt sale.

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Solos, small firms look to portfolio billing

Solos and small firms looking for ways to attract new customers and stabilize their income should consider an increasingly popular option: portfolio billing. Portfolio billing is an arrangement where a law firm takes on all the legal work ...

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Mortgage rates at 4.42 pct.

WASHINGTON, D.C. — Mortgage rates have fallen to the lowest level in decades over the past two months and could dip below 4 percent if the economy worsens. The average rate for 30-year fixed loans fell this week to 4.42 ...

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AG candidates stump in Rochester

Monroe County taxpayers can save millions of dollars under different plans being promoted by candidates running for attorney general. Two of six candidates, all downstaters, stopped in Rochester on Thursday, conducting overlapping press conferences at their respective parties’ committee headquarters. ...

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A year after bankruptcy, GM plans stock sale

DETROIT — Thirteen months ago, General Motors was fighting for its life in bankruptcy court. Now, the automaker is laying the groundwork to sell stock to the public once again with the eventual goal of ridding itself of government ownership.

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