Wells Fargo announced this week that it will be laying off 300 workers in its joint venture home lending unit due to new regulatory changes. Those holding student loans can breathe a sigh of relief today after the Senate passed a bill that would lower the interest rate to 3.9% from 6.8% and will be approved by the House. The regularly scheduled Federal Open Market Committee meeting will be held next week with a monetary policy statement being released at 2:00pm ET on Wednesday.

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