08/23/10
Marketplace Morning Report for Monday, August 23, 2010
Episode Description:
Marketplace Morning Report for Monday, August 23, 2010
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The future of community banks
Chicago's ShoreBank is under new management. The community bank served the undeserved community for years. Dory Rand, president of the Woodstock Institute, talks with Steve Chiotakis about the significance of the bank for its customers and what will happen to it now.
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BofA, Visa to try pay-with-cell program
Bank of America and Visa are getting ready to try a pilot program in New York that will let some customers pay for stuff with their phones. Janet Babin reports.
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What's causing exodus out of stocks?
In the first seven months of the year, investors withdrew $33 billion-plus from domestic stock market mutual funds. Why? Julie Coronado with BNP Parabas talks the details with Bob Moon.
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Credit cards respond to new restrictions
New credit card rules are kicking in. Banks will no longer be able to charge you an "inactivity fee" when you don't use your card. There are also new limits on late fees. And it sounds like great news for credit card users, except for one thing. Amy Scott reports.
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Mo. town lauds stimulus-funded bridge
Recently, the town of Tuscumbia, Mo., celebrated the completion of a two-lane bridge. The nearly $9 million-dollar structure has been billed as the first completed project funded by the stimulus bill. Some there say it's bloated government spending. But the locals seem to like it. David Weinberg reports.
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China invests in electric, hybrid vehicles
China will spend $15 billion over the next three years to develop electric and hybrid vehicles. Rob Schmitz reports.
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China rethinks policy for econ crimes
China is considering dropping capital punishment for economic crimes. The BBC's Michael Bristow talks with Steve Choitakis about why China is reconsidering its position.
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Program trains solar panel installers
Underwriters Laboratories, the group that certifies the safety of many products, has designed a new training program for electricians who install solar panels. Leoneda Inge reports.
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Oil spill fund critics say rules favor BP
Gulf of Mexico residents impacted by the BP rig explosion will be able to ask for compensation now that the company's $20 billion fund is open. Amy Scott reports some people already say the rules aren't fair.
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Reticence to nominate Warren: Sexism?
It's been a month since President Obama signed the financial regulatory reform that created the Consumer Financial Protection Bureau. The administration has yet to nominate a director. Some advocates for one of the leading candidates for the job, Elizabeth Warren, see sexism at play. John Dimsdale reports.
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