Global Financial Turmoil

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U.S. federal deficit hits record $220.9 bln in Feb.: The U.S. federal government registered a record budget deficit of 220.9 billion dollars in February, reported the Treasury on Wednesday.
Bank of America to scrap overdraft fees: With Bank of America's new policy, debit card purchases that would push checking account overdraft will be declined for new customers beginning in June, and for existing customers starting in early August.