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A new credit card law helps protect consumers from most instances of sudden increases in interest rates and other unfavorable changes in terms, but there are still potential pitfalls. The Spring 2010 issue of FDIC Consumer News, published by the Federal Deposit Insurance Corporation, offers eight ways to avoid problems including increases in rates and fees and reductions in credit limits. Other timely articles discuss questions to ask before depositing money through an “agent” or broker instead of directly with a bank, and understanding the risks and costs of a reverse mortgage.
The latest issue can be read or printed online at www.fdic.gov/consumers/consumer/news/cnspr10.
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Roundtable member companies support small business in many ways each and every day. In addition to providing financing, they purchase goods and services from small businesses, offer financial counseling, provide online resources, sponsor networking activities and much more. Below is a sample of what some Roundtable member companies are doing in their communities.
At the beginning of the year, Webster Bank announced $850 million in new lending in for small and medium sized businesses in New England. This was an increase in $400 million from the previous year. For the second consecutive year, Webster was named Connecticut’s number one U.S. Small Business Administration (SBA) lender, both in terms or total loans and total dollar value, for 2009.
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In honor of Small Business Week, The Financial Services Roundtable is proud to acknowledge contributions of the estimated 27.2 million small businesses in America.
“Small businesses are the strength of our economy and our members are fully committed to lending to them,” said Steve Bartlett, President and CEO for the Roundtable. “We equally committed to responsible lending to small businesses based on the ability to repay. That’s good policy for the borrower and lender alike.”
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