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US Bank Card Companies to Seek Licenses to Operate in China in Months

U.S.-based payment card companies, including American Express, MasterCard and Visa, are preparing to submit license requests to operate in China within months, according to three people with direct knowledge of the matter. The long wait for the U.S. companies is, though, unlikely to end soon. It may take as long as two years or more for the companies to clear all official scrutiny, including from banking regulators, and for them to pass a security review, as well as meeting other conditions, the sources said. The move comes against a backdrop…

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Keep A “Friend Bank” So You Can Maintain The Right Kind Of Friendship!

On Facebook I have close to three hundred friends, someone else I know has well over one thousand. What does that mean? Does it mean, that, when I want to hang out with friends, I contact three hundred people, or them, one thousand? Clearly not. If not that, then are most of them friends at all? Making someone a real friend takes considerable time and effort. Sometimes, instead of making the effort to establish someone as a friend, we might instead choose to have a large number of shallow acquaintances…

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Top Federal Reserve official resigns as bank deregulation looms

Top Stories: WASHINGTON (Reuters) – The top Federal Reserve official charged with bank regulation said on Friday that he would resign, giving President Donald Trump the ability to reshape the powerful board governing the U.S. financial system just as he begins revamping and undoing reforms put in place after the 2007-09 financial crisis. Top Federal Reserve official resigns as bank deregulation looms

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