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Inside Washington (05/28/2009)
* WASHINGTON (5/29/09)--The Federal Reserve Board is not releasing details from regulatory reports that Discover Financial Services filed during the first quarter (American Banker May 28). Discover--a bank holding company as of December--told the Fed it will include information in its filing that is not already public. The Fed said in a letter May 19 that it would grant Discover confidentiality treatment regarding the card company’s first-quarter financials report. The Fed has taken similar actions with GMAC ... * WASHINGTON (5/29/09)--Treasury Secretary Tim Geithner Wednesday announced $1.5 billion in New Markets Tax Credit (NMTC) awards for 32 organizations. Among the recipients are JPMorgan Chase and Co. and Capital One Financial Corp. The NMTC Program injects private-sector capital investment into communities to create jobs, stimulate economic growth and jumpstart the lending necessary for financial stability. The NMTC Program, established by Congress in December 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in Community Development Entities ...


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