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Small-business lending loosens up, Fed says

Banks have eased lending standards for small businesses for the first time in nearly four years, the Federal Reserve said Monday.

In its new survey of bank lending practices, t... he Fed found that the loosening of loan standards was occurring primarily at the country's largest domestic banks.

Banks had been reporting relaxed credit standards for big corporations. But the new survey was the first indication that credit was easing for smaller companies, those with annual sales of less than $50 million.

The Fed's latest quarterly report on lending was based on responses received to a survey done in late July. It found that the most improvement came in loan areas where banks were facing competition to offer credit.

-- Associated Press

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U.S. should set Internet rules, lawmakers say

The United States should write Internet traffic rules and ignore an agreement between Google and Verizon Communications, four Democratic lawmakers said.