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Finance

Some Fed officials want to slow economic help

WASHINGTON (AP) — Some Federal Reserve officials think the U.S. economy is improving fast enough that the Fed will need to act sooner than previously thought to slow the extraordinary support it’s been providing through ultra-low interest rates. Minutes of ...

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PriceWaterhouseCoopers to pay $25M in bank case

ALBANY — PriceWaterhouseCoopers will pay $25 million and face a two-year suspension from consulting for new bank clients under an agreement with New York regulators following an investigation that showed the company improperly altered a report about Bank of Tokyo ...

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SEC examining ‘alternative’ mutual funds

Federal regulators are scrutinizing a type of mutual fund that’s potentially riskier than conventional funds and is growing in popularity, prompting concerns over possible harm to ordinary investors. The Securities and Exchange Commission has disclosed that it’s conducting a “national ...

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Why global turmoil hasn’t sunk US markets, yet

NEW YORK — Europe appears on the brink of another recession. Islamic militants have seized Iraqi territory. Russian troops have massed on the Ukraine border, and the resulting sanctions are disrupting trade. An Ebola outbreak in Africa and Israel’s war ...

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Lakelet firm expands into Rochester

Lakelet Advisory Group LLC and its sister entity, Lakelet Financial Forensics Group, are expanding into the Rochester market. The new office will be at 510 Clinton Square. The firm’s focus is on turnarounds, business valuations, claims/business loss determination, litigation support, ...

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Spots available in BizKid$ camp

Openings for Rochester youths ages 13 to 18 are available in the Biz Kid$ business-education camp. The day camp is offered daily 9 a.m. to 4 p.m. from Aug. 4 to 9, at the Norton Village Recreation Center, 350 Waring ...

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Study: 35 percent in US facing debt collectors

WASHINGTON — More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute. These consumers fall behind on credit cards or hospital bills. ...

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Soldiers get $92M in debt relief under settlement

ALBANY (AP) — Thirteen states have settled an investigation into improper lending with a court agreement that is expected to provide $92 million in debt relief for 17,800 U.S. military personnel. Deceptive practices by Rome Finance Co., more recently doing ...

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Global tensions can’t dent enthusiasm for stocks

A war breaks out between Israel and Hamas. An airliner is shot out of the sky in Ukraine. A Portuguese bank’s finances look shaky. And the U.S. stock market’s response? After dipping briefly on the bad news, it climbs higher. ...

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Morgan Stanley paying $275M to settle charges

WASHINGTON (AP) — Morgan Stanley has agreed to pay $275 million to settle U.S. civil charges that it misled investors about risky mortgage bonds it sold ahead of the 2008 financial crisis. The Securities and Exchange Commission announced the settlement ...

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Groups awarded for financial education work

The Marketview Heights Association and NeighborWorks Rochester were among the nine regional nonprofits awarded by Citizens Bank as part of the “Citizens Helping Citizens Manage Money” initiative. The Rochester organizations were chosen from among more than 150 applicants in a ...

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