By Jul 7, 2009, 12:51 PM 

A group of the biggest U.S. banks said they would stop accepting California’s IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap. The group of banks included BofA, Citigroup, Wells Fargo and J.P. Morgan, among others. The banks had previously committed to accepting state IOUs as payment.

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