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News of the Competition (06/18/2014)
  • WASHINGTON (6/18/14)--The U.S. Justice Department turned down a $4 billion settlement offer from Citigroup last week, as the federal agency doesn't believe the amount adequately covers the damage inflicted by the big bank's alleged shoddy mortgage-lending practices that preceded the 2008 economic downturn (Forbes June 13). Government negotiators are seeking closer to $10 billion, according to reports, to recoup at least 10% of the $91 billion Citi sold in mortgage-backed securities leading up to the recession. Should Citi agree to pay $10 billion, it would be the second 11-figure settlement from a big bank in the last year, as JPMorgan Chase agreed to pay $13 billion in November to settle a dispute over its own mortgage-lending practices...
     
  • LAS VEGAS (6/18/14)--A pot industry payment processor, formerly called GreenHouse Payment Solutions, has joined up with two card-payment companies in order to equip marijuana dispensaries with the means to accept debit and credit cards, according to a GreenHouse press release. Combining the expertise of Advanced Content Services, Inc., and SinglePoint, Inc., the reconfigured and renamed GreenStar Payment Solutions, Inc. will allow marijuana businesses to cut down on non-cash payments, with the intention of improving convenience and reducing concerns about safety for both dispensaries and their customers, according to the release. GreenStar will hold its first official board meeting in Denver next month...


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