Money-Market Fund Woe Becomes a Headache for Borrowers

For decades, money-market mutual funds offered better returns than bank deposits, were just as accessible and seemed just as safe — until they needed a federal bailout at the height of the 2008 financial crisis. That led to reforms meant to make the industry safer, while still allowing users to pursue higher yields, and investors started to drift back. But now the Federal Reserve has driven rates so low that the extra risk hardly seems worth it. That’s creating problems not just for fund manage