You may have seen the brightly colored Kiva billboard on California's Highway 101, urging motorists to "Make a micro loan today. Forever change a life." Maybe you've heard Oprah Winfrey or Bill Clinton talking about the online microfinance operation started by a Silicon Valley couple.
Robert Stopanio's new medical-device manufacturing plant was supposed to open eight months ago and employ about 75 workers in a state that desperately needs jobs. But Stopanio hasn't been able to find the financing.
Financial institutions will be prohibited from charging consumers fees for paying overdrafts on automated teller machines or one-time debit card transactions unless a consumer agrees to the protection first, according to strong new rules for the $38 billion overdraft industry approved Thursday by the Federal Reserve.