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(Image from article: "California IOUs to be shunned by big banks after today")

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Main Topics

Iou
Speculators

Iou Topics

Bank Of America
Banks
Budget Crisis
Budget Deficit
California
California Budget Deficit
Cutoff
Promissory Notes
Sec
Securities
Vouchers

California IOUs to be shunned by big banks after today

Bank of America and other big institutions plan to enforce a cutoff, making it harder to cash vouchers. To protect IOU holders from third-party speculators, the SEC defines the vouchers as securities.

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