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January 11, 1989 | WILLIAM J. EATON and BOB SECTER, Times Staff Writers
A Chicago bank accused of job discrimination against women and minority employees has agreed to pay a record $14 million in back wages as restitution for past bias, the Labor Department announced Tuesday. The settlement by the Harris Trust & Savings Bank was the largest such award ever obtained by the federal government in a sex or race discrimination case and ended a 14-year legal struggle with the company.
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BUSINESS
March 18, 1994 | From Times Staff and Wire Reports
Two Big Banks Boost Prime Rate: J.P. Morgan & Co. raised its prime lending rate to 6% from 5.50% as of today, bringing the rate in line with that of most banks. Harris Trust & Savings Bank, a unit of the Bank of Montreal, also announced a prime rate hike to 6% from 5.75%, effective today. Chicago-based Harris has kept its prime rate--the rate it charges its best customers--lower than other banks' to win new business, a spokeswoman said.
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BUSINESS
March 18, 1994 | From Times Staff and Wire Reports
Two Big Banks Boost Prime Rate: J.P. Morgan & Co. raised its prime lending rate to 6% from 5.50% as of today, bringing the rate in line with that of most banks. Harris Trust & Savings Bank, a unit of the Bank of Montreal, also announced a prime rate hike to 6% from 5.75%, effective today. Chicago-based Harris has kept its prime rate--the rate it charges its best customers--lower than other banks' to win new business, a spokeswoman said.
NEWS
October 19, 1993 | CHRIS KRAUL, TIMES STAFF WRITER
Two major banks cut their prime lending rate Monday to 5.5%--the lowest level in 21 years--in a move that could bring relief to consumers and corporations with loans and credit card accounts tied to the key interest rate. The action by Morgan Guaranty Trust of New York and Harris Trust & Savings of Chicago marked the first significant reduction in the prime--the benchmark rate for blue chip customers--from the 6% level where the rate has generally stood since July, 1992.
NEWS
October 19, 1993 | CHRIS KRAUL, TIMES STAFF WRITER
Two major banks cut their prime lending rate Monday to 5.5%--the lowest level in 21 years--in a move that could bring relief to consumers and corporations with loans and credit card accounts tied to the key interest rate. The action by Morgan Guaranty Trust of New York and Harris Trust & Savings of Chicago marked the first significant reduction in the prime--the benchmark rate for blue chip customers--from the 6% level where the rate has generally stood since July, 1992.
BUSINESS
June 13, 1995 | Jack Searles
LTC Properties Inc., an Oxnard-based real estate investment trust, is offering investors a plan that allows automatic dividend reinvestment and also regularly scheduled stock purchases. Besides using cash dividends to buy additional common shares, the plan allows shareholders to buy shares on a set monthly schedule for cash. The plan is being administered by Harris Trust and Savings Bank of Chicago, the REIT's transfer agent.
NEWS
January 10, 1989 | From Times wire services
A Chicago bank that was the government's biggest target of racial and sexual discrimination charges has agreed to pay $14 million in back pay, the largest such settlement ever obtained by the federal government, the Labor Department said today.
CALIFORNIA | LOCAL
August 31, 2009 | Times Staff and Wire Reports
Beryl W. Sprinkel Economic advisor to Reagan Beryl W. Sprinkel, 85, who served as chairman of the Council of Economic Advisers during the Reagan administration and who helped guide the administration's response to the October 1987 stock market crash, died Aug. 22 at a nursing home in Beecher, Ill. He had Lambert-Eaton myasthenic syndrome, a rare neuromuscular disease. Sprinkel, protege of conservative economics guru Milton Friedman, taught economics at the University of Chicago and was executive vice president and economic advisor at the Harris Trust and Savings Bank in Chicago for nearly 30 years.
BUSINESS
November 2, 1991 | Highlights of Friday's market activity, compiled from Times staff and wire reports: and
* Stock prices fell as investor sentiment turned bearish when the Federal Reserve failed to lower the discount rate despite bleak economic reports. * The Dow Jones industrial average fell 12.75 points to 3,056.35. * Treasury securities prices were mixed despite an increase in the jobless rate and a decline in a key economic forecasting index. Stocks The Dow was down about 20 points at midmorning. It rebounded to the plus side in the afternoon before falling again.
NEWS
January 11, 1989 | WILLIAM J. EATON and BOB SECTER, Times Staff Writers
A Chicago bank accused of job discrimination against women and minority employees has agreed to pay a record $14 million in back wages as restitution for past bias, the Labor Department announced Tuesday. The settlement by the Harris Trust & Savings Bank was the largest such award ever obtained by the federal government in a sex or race discrimination case and ended a 14-year legal struggle with the company.
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