House mulls amending bank laws

In the wake of the Bank of Saipan debacle, the House of Representatives is now mulling two options on how to adequately protect government deposits in banks that are not insured by the Federal Depository Insurance Corporation (FDIC).
Posted On May 02 2002 00:00
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‘Why complain now when they were silent before?’

Since 1998 up to the present, only the Washington lobbyists have obtained legislative approval for receiving salaries in excess of the ceilings set by law.
Posted On May 02 2002 00:00
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NMIRF investments back up to $350-M level

Buoyed by an upsurge in U.S. economic activity and the official end of the recession, the Northern Mariana Islands Retirement Fund’s international investments grew by a modest 3.46 percent in March, reflecting an $11.72-million increase in the portfolio’s market value.
Posted On May 02 2002 00:00
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CNMI Treasury rejecting BoS checks

As depositors of the Bank of Saipan panicked to withdraw their deposits from the bank, the CNMI Treasury has issued a public notice advising the public that it is no longer accepting BoS checks, while some depositors continue using their drafts to tender payment to the government.
Posted On May 02 2002 00:00
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//May 2, 2002

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