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Government Policy and Law

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Regulators tell banks not to sweat debt downgrade

Federal regulators of banks, savings and loans and credit unions have advised their charges that Standard & Poor’s downgrade of the country’s debt rating will not affect calculations used to determine capital levels, an important …

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Plea agreement in movie case

Attorney General Tom Miller today entered into a plea agreement with an Iowa film producer charged in the Iowa Film Office case. 

Bruce Elgin, 42, of Washington, pleaded guilty in Polk County District Court this …

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Class-action suit hits Electrolux

Electrolux failed to pay overtime to production workers at its now shuttered Webster City plant, an attorney claims in a federal class-action lawsuit filed Wednesday.

The Fort Dodge Messenger reported that Bart Goplerud, the West …

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FEMA turns down Branstad request

Gov. Terry Branstad was notified late Thursday by the Federal Emergency Management Agency that Iowa’s request for activation of the Federal Individual Assistance Program for Fremont, Harrison, Monona, Pottawattamie and Woodbury counties has been denied. …

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Department of Administrative Services receives procurement award

The procurement division of the Iowa Department of Administrative Services (DAS) has received an Annual Achievement of Excellence in Procurement Award from the National Purchasing Institute.

The award recognizes best practices in staff certification and …

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Debt ceiling compromise may not prevent credit downgrades

The United States stepped back from the brink of default on Tuesday, but congressional approval of a last-ditch deficit-cutting plan failed to dispel fears of a credit downgrade and future tax and spending feuds, Reuters …

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Health exchange official to step down

The official charged with overseeing the creation of U.S. state-based health insurance exchanges is stepping down at a critical juncture for the Obama administration’s health care overhaul, Reuters reported. Joel Ario, director of health insurance …

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Debt deal could signal end to efforts to spur the economy

The federal government looks to be getting out of the business of trying to spur the economy just as the U.S. expansion shows increasing signs of faltering, Bloomberg reported.

A deal struck over the weekend …

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Consumer spending drops

Consumer spending unexpectedly dropped in June for the first time in almost two years as a slump in hiring caused households to retrench, Bloomberg reported today after the release of a government report.

Purchases decreased …

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Debt debate was an expensive spat

The debt ceiling debacle has cost U.S. taxpayers more than $1.7 billion – the amount of additional interest the government had to pay investors Monday to sell U.S. Treasury bills that finance its operations, CNNMoney …