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Financial Reform

Massachusetts moving money out of 3 big banks to protest credit card rates

Massachusetts officials on Wednesday announced plans to move millions of dollars in state investments out of some of the nation's biggest banks to protest credit card interest rates.

State Treasurer Timothy Cahill said the state has removed Bank of America, Citi and Wells Fargo from a list of institutions approved for new state investments. Massachusetts, which is the only state to make such a move, is also beginning to divest $243 million in funds held at those banks, though the process could take up to six months...

Battling to save financial souls

For 11 years, Lea Jerome of Charlestown was a spending fiend. She attends Boston Missionary Baptist Church in Roxbury every Sunday and likes to look good when she goes there. So she'd buy pants and long dresses that she loved to pair together or shop at DSW for shoes. Sometimes she'd never even wear her purchases...

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