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WASHINGTON (AP) — The Supreme Court on Tuesday rejected a challenge from retailers who claim the Federal Reserve allows banks to charge businesses too much for handling debit card transactions.
were happy with the appeals court decision. The fight over debit card fees pitted two powerful and politically influential industries ..... processing card payments. The Fed's cap is the first limit on debit card fees . Before it took effect in October 2011, a big chain like
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Victoria McGrane from the Wall Street Journal discusses the Federal Reserve and some of their new rules.
Guest Host Brian Joyce talks with callers about the sexual harasment charges from presidental hopeful, Herman Cain's past.
Holding up a plastic debit card on the Senate floor this afternoon, Sen. Dick Durbin, D-Ill., had some advice for Bank of America customers angry about the new $5 monthly fee: leave. Durbin unleashed this tirade in response to BofA’s use of the expression “Durbin rule” to explain the debit - card fee that will now be charged to users of that service. Howie felt that Dick Durbin was a hypocrite.
When Bank of America announced last week that it would begin charging a $5 monthly fee to customers using their debit cards at retail locations, it understandably caused a fair amount of complaining from consumers. This one action seems to have focused the attention of politicians and activists towards a concrete foe, ratcheting up of the anti-bank rhetoric to levels not seen in at least a year. Howie had a laissez faire attitude...
Our favorite message on today's chump line was an imitation of Congressman Barney Frank saying that Bank Of America is looking good moving forward.