Republicans Are About to Cut a Handout to Big Banks—Thanks to Progressive … – The New Republic

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Republicans Are About to Cut a Handout to Big Banks—Thanks to Progressive
The New Republic
The subsidy is a 6 percent dividend on stock that 2,900 banks hold in the Federal Reserve system. Banks must purchase this stock, a set percentage of their capital, to be members of the regional Fed banks, but it has a set value that never changes and

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