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  • BofA, Wells Fargo will take California's IOUs

    Sep 2nd, 2009 - Reuters

    SAN FRANCISCO, Sept 2 (Reuters) - Bank of America Corp(BAC.N) and Wells Fargo & Co (WFC.N) said on Wednesday theywill accept IOUs issued by California's state government topreserve its dwindling cash during its budget crisis.

  • BofA, Wells plan to cash IOUs

    Sep 2nd, 2009 - bizjournals

    Bank of America and Wells Fargo said Wednesday that they will soon start cashing California IOUs for their customers. Wells (NYSE: WFC) will start cashing IOUs on Sept...

  • California to End IOU Program on Sept. 4

    Aug 13th, 2009 - Wall Street Journal

    NEW YORK -- California will have enough cash to enable the hard-pressed state to stop issuing IOUs on Sept. 4, Controller John Chiang said Thursday. He said current cash-flow projections show the Golden State still needs to borrow $10.

  • Deal reached to close Calif's $26B budget deficit

    Jul 21st, 2009 - USA Today

    SACRAMENTO (AP) — Gov. Arnold Schwarzenegger and California's legislative leaders agreed Monday on a plan to close the state's $26 billion budget shortfall, potentially getting the state back on firm financial ground so it can stop issuing IOUs.

  • Hope for California budget deal as 'IOUs' planned

    Jul 2nd, 2009 - Reuters

    * Democrats drop demands for tax hikes in budget * Top Republican lawmaker now expects progress toward deal * State sends 'IOUs' to preserve cash for priority bills (Recasts...

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