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Program:
Date:
Thursday, May 6, 2010 - 2:08pm
On April 13, State Treasurer Tim Cahill, who is also an independent candidate for governor, announced that Massachusetts will withdraw more than $231 million of state funds from a Bank of America account because the lender refuses to cap credit-card interest rates at 18 percent.
Treasurer Cahill’s decision followed a meeting the Greater Boston Interfaith Organization held with Bank of America asking the lender to comply with the state’s usury law, which caps rates at 18 percent.
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