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Regulators press payment network
6:39 pm
Thu November 13, 2014

Banks Agree To Block Payday Lenders

Four additional banks have agreed to block online payday lenders from accessing customer accounts in New York. The agreement comes as the banks' processing network remains silent on efforts to keep the illegal loans from crossing state borders.

Payday lending is generally illegal in New York and Connecticut because the loans, which can be as high as 500 percent, exceed both states' cap on allowable interest.

However, investigators in New York have received complaints that payday lenders are making these loans online.

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Election 2014
7:54 pm
Tue November 11, 2014

Nearly $17 Million In Outside Money Spent On Conn. Governor's Race

A government watchdog group in Connecticut says nearly $17 million was spent by outside groups on the state’s tight gubernatorial race.

Common Cause Connecticut has determined that $16.75 million was spent on the race for governor.

We don’t have all the details about that yet. But it will be important to look at how it is that they were trying to influence our elections,” said the executive director of the group, Cherie Quickmire. Much of the money came from out-of-state entities, she said.

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Government
7:22 pm
Tue November 11, 2014

Clergy, Police, And Mayors Put Questions To Gun Manufacturers

Bridgeport police officers display recently confiscated illegal guns at a press conference Monday.
Credit Davis Dunavin

Some clergy, police, and town leaders in Connecticut, Westchester County, and Long Island are asking gun manufacturers what they’re going to do to make guns safer. 

Public entities like police departments make up about 40 percent of the market in the gun industry. And some are hoping they can leverage that to improve gun safety.

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Despite market rebound, profits scant
6:57 pm
Mon November 10, 2014

Wall Street Bonuses Will Be Flat This Year

Trader Sean Spain works on the floor of the New York Stock Exchange, Monday, June 24, 2013.
Credit AP Photo/Richard Drew

A new survey finds that Wall Street bonuses this year will be flat despite strong gains in the stock market.

This comes as hundreds of new rules take effect pushing the industry away from making risky bets.

In the past those risky bets led to big profits and big bonuses. But the Dodd-Frank Wall Street Reform Act introduced rules requiring banks to keep more cash on hand and curb the kinds of complicated trading that led to the financial collapse in 2008.

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Conn. General Assembly
8:20 pm
Thu November 6, 2014

Conn. Senate Picks New Leadership

State Senator Martin Looney (D- New Haven) has been selected to by the next President of the Conn. Senate.
Credit Conn. Senate Democratic Caucus

New Haven Democrat Martin Looney has been chosen to be the Connecticut Senate President in the new session that begins in January.

Looney is one of several leaders of the upper chamber of the state General Assembly selected by their members on Thursday.

He has served as Connecticut Senate majority leader since 2003. He is expected to be officially elected president by the full Senate in January. Looney will replace Donald Williams of Brooklyn, who did not seek re-election.

Looney said he’s honored to have been selected to lead the body .

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