Banking and credit

FILE - This July 21, 2020 file photo shows The New York Stock Exchange. Stocks are rebounding in early trading on Wall Street Wednesday, Aug. 12, carrying the S&P 500 back toward the cusp of its record high. The benchmark index was up 1% after the first half-hour of trading and on pace for its eighth gain in nine days. (AP Photo/Mark Lennihan, File)
August 12, 2020 - 5:53 pm
Stocks marched broadly higher on Wall Street Wednesday, briefly nudging the S&P 500 above its all-time closing high set in February, before the coronavirus pandemic led to a historic market plunge. The benchmark index notched a 1.4% gain, its eighth in nine days. It ended within 0.2% of its...
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FILE - In this Nov. 25, 2019 file photo Federal Reserve Bank of Boston President Eric Rosengren, left, speaks during a round table discussion at Silver Lane Elementary School, in East Hartford, Conn. Rosengren said in remarks delivered online Wednesday, Aug. 12, 2020, that states in the South and West that allowed their businesses to reopen after short shutdowns saw an initial burst of economic activity. But spikes in infection rates soon followed and those states’ economies are now lagging those in the Northeast as consumers have become more cautious. (AP Photo/Steven Senne, file)
August 12, 2020 - 12:30 pm
WASHINGTON (AP) — A top official at the Federal Reserve criticized the decision by many states to reopen businesses this spring before getting the virus fully under control, and said those choices have hindered an economic recovery in the U.S. Eric Rosengren, president of the Federal Reserve Bank...
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An outdoor table is ready for customers at Loretta and the Butcher restaurant during the coronavirus pandemic, Thursday, Aug. 6, 2020, in the Coconut Grove neighborhood in Miami. Restaurants continue to offer outdoor dining and take-out only, with indoor dining still not permitted in Miami-Dade County. (AP Photo/Lynne Sladky)
August 06, 2020 - 7:19 pm
WASHINGTON (AP) — The Federal Reserve says that its Main Street Lending Program designed to help small and medium-sized companies get through the pandemic has managed to make just eight loans in its first month of operations. In its first report on the program, the Fed said Thursday it had provided...
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FILE - In this March 3, 2020, file photo, Federal Reserve Chair Jerome Powell pauses during a news conference, to discuss an announcement from the Federal Open Market Committee, in Washington. A group of congressional Democrats introduced legislation Wednesday, Aug. 5, that would require the Federal Reserve to pursue the elimination of racial disparities in jobs, wealth and income as one of its policy goals. (AP Photo/Jacquelyn Martin, File)
August 05, 2020 - 7:20 pm
A group of congressional Democrats introduced legislation Wednesday that would require the Federal Reserve to pursue the elimination of racial disparities in jobs, wealth and income as one of its policy goals. The legislation would also require the Fed's chair, currently Jerome Powell, to report...
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FILE - In this July 16, 2019, file photo, a man walks across the street from a Capital One location in San Francisco. Delayed receipt of money from the coronavirus relief bill is one of the newest difficulties faced by people who don’t have bank accounts. But there are other challenges as well, and it may come as an unwelcome surprise that banks sometimes turn down those applying for their first account. (AP Photo/Jeff Chiu, File)
August 05, 2020 - 10:50 am
Managing your money without a bank account is doable. But it can pose challenges — and the COVID-19 pandemic has only added more. Your economic impact payment might’ve arrived weeks or months after others’ did, in the form of a check or prepaid debit card, because you couldn’t choose the faster...
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FILE - In this Jan. 2, 2019, file photo, women peer in the front door of Lord & Taylor's flagship Fifth Avenue store which closed for good in New York. New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic. (AP Photo/Kathy Willens, File)
August 03, 2020 - 8:45 am
NEW YORK (AP) — Lord & Taylor, America's oldest retailer, is seeking bankruptcy protection, as is the owner of Men’s Wearhouse and Jos. A. Bank, lengthening the list of major retail chains that have faltered in the pandemic. Household names, many longtime anchors in malls nationwide, were...
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This undated photo provided by the Bank of Korea on Friday, July 31, 2020, shows damaged banknotes by being heated up in a microwave in South Korea. According to the bank, a person, surnamed Kim, put bills in a microwave over coronavirus concerns earlier this year. The bank exchanged Kim's damaged money with the new currency worth 5.2 million won ($4,370). (Bank of Korea via AP)
July 31, 2020 - 6:10 am
SEOUL, South Korea (AP) — Money laundering is not a good idea, as a South Korean found out when he or she put banknotes in a washing machine to remove possible traces of the coronavirus. Officials say the loss was considerable. The person living in Ansan city, near Seoul, placed an unspecified...
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A man lifts his arm as he walks by the New York Stock Exchange, Thursday, July 30, 2020. Stocks are falling on Wall Street Thursday after reports showed that layoffs are continuing at a stubborn pace and that the U.S. economy contracted at a nearly 33% annual rate in the spring. (AP Photo/Mark Lennihan)
July 31, 2020 - 12:16 am
TOKYO (AP) — Asian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record. Earnings reports, a gauge of how well businesses are managing the fallout...
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Currency trader watch computer monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, July 30, 2020. Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. (AP Photo/Lee Jin-man)
WBEN Newsroom
July 29, 2020 - 11:49 pm
BEIJING (AP) — Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. Benchmarks in Shanghai, Tokyo, Hong Kong and Seoul all gained. Lower interest rates and investor optimism about a possible coronavirus vaccine have helped...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday, July 29, after its two-day policy meeting ends and just before Powell holds a news conference. (AP Photo/Jacquelyn Martin, File)
July 29, 2020 - 5:27 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future...
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