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how to do transfer. And credit card... Well it's long story. And I don't know what to do!! I just want 2 get my credit card back and get myself a frapachino! Lack of oversight let BP destroy environment, Lack of oversight let credit card interchange swipefees be 5x more in U.S.
Credit card experts and issuers alike have warned the multitudes of soccer fans that they could fall victim to credit card fraud in south Africa during the world cup championship.
While there are also warnig from Hawaiian Airlines: warned consumers on Thursday about fraudulent vouchers being sold on Craigslist and 808 Classifieds that were purchased using stolen credit cards. A fraudulent credit-card manufacturing operation resulted in the arrest of a Gilbert couple, who now face numerous fraud charges, according to Gilbert police. Banks will have to be on the ball as hundreds of thousands of soccer fans flock to South Africa for the World Cup, credit card experts warn.
Credit card experts and issuers alike have warned the multitudes of soccer fans that they could fall victim to credit card fraud in south Africa during the world cup championship.
While there are also warnig from Hawaiian Airlines: warned consumers on Thursday about fraudulent vouchers being sold on Craigslist and 808 Classifieds that were purchased using stolen credit cards. A fraudulent credit-card manufacturing operation resulted in the arrest of a Gilbert couple, who now face numerous fraud charges, according to Gilbert police. Banks will have to be on the ball as hundreds of thousands of soccer fans flock to South Africa for the World Cup, credit card experts warn.
Credit card fraud costs you lost time, great inconvenience, and money aarp talks about how to protect yourself from credit card fraud. Federal credit card used to buy $15,000 in ipods, gadgets ajc.com credit card finder is australia's best online resource to compare australian credit cards, apply online and save, 100 free service compare interest rates, balance transfers and. Credit card terminals at merchant warehouse small businesses should not expect to fly under the radar forever. Credit card logon the average american family today carries eight credit cards credit card debt and personal bankruptcies are now at an all time high with no legal limit on the amount of interest. District food servers charged in theft of patrons' credit card numbers a valero credit card offers you convenience, savings and a commitment to excellent customer service.
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Washington - Wall Street fell at the close trade on Friday (14 / 5), owing to the drop in earnings from the retail industry coupled with the U.S. Senate limits credit card fees (commission), and the fear of Europe debt.
Shares of banking and credit card companies fell a day after Senate decided to limit the fees charged on credit card transactions and debit card. Limitation of credit card fees adds the concerns where that reforms acts threaten the profits of credit card companies share sector. Visa shares slumped 10%.
Investor's comfort have taken in the middle of signs of U.S. economic recovery under the prediction of the retail industry such as Nordstrom Inc. and JC Penney Co. Inc., doubted the recovery of consumer spending.
Dow Jones Industrial Average. DJI fell 162.79 points, or 1.51 percent to end at 10,620.16. Standard & Poor's 500 Index. SPX fell 21.76 points, or 1.88 percent, to 1,135.68. The Nasdaq Composite Index. IXIC lost 47.51 points, or 1.98 percent, to close at 2,346.85.
Stocks rallied sharply on Monday (10 / 5) after news that the EU finance ministers have approved a package one trillion U.S. dollars for debt-laden Greek. But the optimism lasted only briefly, with shares down three days this week.
Euro / dollar and S & P 500 25-day rolling correlation has strengthened to a strong 85 percent, the highest since mid-February amid concern that slow growth in Europe will grow to threaten corporate profits.
Shares of banking and credit card companies fell a day after Senate decided to limit the fees charged on credit card transactions and debit card. Limitation of credit card fees adds the concerns where that reforms acts threaten the profits of credit card companies share sector. Visa shares slumped 10%.
Investor's comfort have taken in the middle of signs of U.S. economic recovery under the prediction of the retail industry such as Nordstrom Inc. and JC Penney Co. Inc., doubted the recovery of consumer spending.
Dow Jones Industrial Average. DJI fell 162.79 points, or 1.51 percent to end at 10,620.16. Standard & Poor's 500 Index. SPX fell 21.76 points, or 1.88 percent, to 1,135.68. The Nasdaq Composite Index. IXIC lost 47.51 points, or 1.98 percent, to close at 2,346.85.
Stocks rallied sharply on Monday (10 / 5) after news that the EU finance ministers have approved a package one trillion U.S. dollars for debt-laden Greek. But the optimism lasted only briefly, with shares down three days this week.
Euro / dollar and S & P 500 25-day rolling correlation has strengthened to a strong 85 percent, the highest since mid-February amid concern that slow growth in Europe will grow to threaten corporate profits.
Amendments To Targeting Credit Card Industry
As the Senate powers over lots of offered changes to the Democrats’ financial regulatory legislation, lawmakers have offered at least 3 amendments designed to protect consumers and businesses from high credit card interest rates and fees.The efforts to restrict credit card companies are coming mostly from liberal Democrats. And while the alters are likely to have popular appeal with consumers, their prospects are uncertain given that Congress approved a bill rewriting the principles of the credit card industry not even a year ago.
The proposal with perhaps the best chances of being included in the financial regulatory bill, would restore states’ ability to implement interest rate caps on out-of-state companies lending to their residents.
The amendment, sponsored by Senator Sheldon Whitehouse, Democrat of Rhode Island, and Senator Thad Cochran, Republican of Mississippi, would close a loophole created in 1978 when the Supreme Court ruled that the laws of a bank’s home state govern transactions across state lines, Mr. Whitehouse said. Read more
And for credit card tips of this week you can red about it here with the title Credit Card Tip Of The Week: Pay Off That Balance, Then Worry About Investing so hopefully the tips will help people pay their credit cards bill faster. And then starting to think about investing your money.
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NRF Supports Credit Card Swipe Fee
The National Retail Federation is urging the House Judiciary Committee to approve legislation that would require Visa and MasterCard banks to negotiate over the terms and conditions associated with the $48 billion in credit card swipe fees paid by merchants and their customers each year
"The fact that you’re seeing this issue being widely discussed both here in Washington and in the states shows that people have finally come to understand the huge financial impact these fees have on consumers and the economy," NRF Senior Vice President and General Counsel Mallory Duncan said. "It has become clear to lawmakers that these fees drive up consumer prices. We can't afford to have this much money diverted into banking profits at a time when Main Street businesses and working families are struggling to recover from the economic downturn."
NRF testimony before the committee last week "makes it clear that practices in setting swipe fees have violated federal antitrust law, and that most of these fees go to the nation’s largest banks, not local lending institutions," Duncan said. "If big banks can be required to negotiate with merchants the same as any other vendor offering a service, we can bring these fees down to a level that more fairly reflects the value of the service provided."
Sponsored by Chairman John Conyers, D-Mich., and co-sponsored by Representative Bill Shuster, R-Pa., H.R. 2695, or the Credit Card Fair Fee ActOpens in a new window, would require credit card systems possessing "substantial market power" to negotiate with merchants to reach a voluntary agreement on credit and debit card terms and conditions. Under current practice, Visa and MasterCard--the only two card systems that meet the definition of holding "substantial market power"--have always refused to negotiate over the fees, instead unilaterally imposing them on merchants.
The Vermont legislature is considering a bill that would bar card companies from interfering in retailers' ability to set minimum credit card purchases or to offer a discount for cash, checks, debit cards or credit cards with lower-than-normal swipe fees. A number of other states are also considering swipe fee-related legislation.
Source
Interchange fees, also referred to as "swipe fees," are set by MasterCard and Visa, and vary from merchant to merchant and card to card. They average about 2% for credit-card transactions, and are higher for rewards or corporate cards.
Retailers loathe the fees because they eat into profits. Credit-card issuers, however, say they're needed to cover transaction costs, including losses from consumers who don't pay their bills.
"We're not saying there should not be an interchange fee," Durbin said on the Senate floor this week. "We are saying it should be reasonable."
His amendments, which are opposed by major credit-card networks and issuers as well as credit-union and community-bank trade groups, call for allowing merchants to offer discounts to consumers who use cash, debit or a particular card network, say a MasterCard instead of a Visa.
Another amendment, offered as an aid to small businesses, would allow merchants to set minimum and maximum purchase limits -- something major card issuers don't allow and threaten to fine businesses that set them.
Durbin's also looking for the lowest rates possible to apply to government credit-card transactions, noting that consumers are increasingly using plastic to pay for such things as tax payments, toll fees and dog licenses. He called the U.S. government a "major user" of credit cards.
This is the third time in two years that Durbin has floated proposals aimed at curbing interchange fees. MasterCard and Visa have lobbied hard against any changes, as have the major banks that issue the cards. The fees represent a key revenue component for those banks, which have seen the CARD Act strip away or significantly reduce other sources of income in the last year.
Source :
The National Retail Federation is urging the House Judiciary Committee to approve legislation that would require Visa and MasterCard banks to negotiate over the terms and conditions associated with the $48 billion in credit card swipe fees paid by merchants and their customers each year
"The fact that you’re seeing this issue being widely discussed both here in Washington and in the states shows that people have finally come to understand the huge financial impact these fees have on consumers and the economy," NRF Senior Vice President and General Counsel Mallory Duncan said. "It has become clear to lawmakers that these fees drive up consumer prices. We can't afford to have this much money diverted into banking profits at a time when Main Street businesses and working families are struggling to recover from the economic downturn."
NRF testimony before the committee last week "makes it clear that practices in setting swipe fees have violated federal antitrust law, and that most of these fees go to the nation’s largest banks, not local lending institutions," Duncan said. "If big banks can be required to negotiate with merchants the same as any other vendor offering a service, we can bring these fees down to a level that more fairly reflects the value of the service provided."
Sponsored by Chairman John Conyers, D-Mich., and co-sponsored by Representative Bill Shuster, R-Pa., H.R. 2695, or the Credit Card Fair Fee ActOpens in a new window, would require credit card systems possessing "substantial market power" to negotiate with merchants to reach a voluntary agreement on credit and debit card terms and conditions. Under current practice, Visa and MasterCard--the only two card systems that meet the definition of holding "substantial market power"--have always refused to negotiate over the fees, instead unilaterally imposing them on merchants.
The Vermont legislature is considering a bill that would bar card companies from interfering in retailers' ability to set minimum credit card purchases or to offer a discount for cash, checks, debit cards or credit cards with lower-than-normal swipe fees. A number of other states are also considering swipe fee-related legislation.
Source
Senator proposes limiting credit-card swipe fees
Sen. Dick Durbin, D-Ill., introduced three amendments to the bank-reform bill to control how much credit-card issuers charge merchants when consumers pay with a credit card. If enacted, the proposals would sharply dent the more than $40 billion in fees collected annually by card-issuing banks.Interchange fees, also referred to as "swipe fees," are set by MasterCard and Visa, and vary from merchant to merchant and card to card. They average about 2% for credit-card transactions, and are higher for rewards or corporate cards.
Retailers loathe the fees because they eat into profits. Credit-card issuers, however, say they're needed to cover transaction costs, including losses from consumers who don't pay their bills.
"We're not saying there should not be an interchange fee," Durbin said on the Senate floor this week. "We are saying it should be reasonable."
His amendments, which are opposed by major credit-card networks and issuers as well as credit-union and community-bank trade groups, call for allowing merchants to offer discounts to consumers who use cash, debit or a particular card network, say a MasterCard instead of a Visa.
Another amendment, offered as an aid to small businesses, would allow merchants to set minimum and maximum purchase limits -- something major card issuers don't allow and threaten to fine businesses that set them.
Durbin's also looking for the lowest rates possible to apply to government credit-card transactions, noting that consumers are increasingly using plastic to pay for such things as tax payments, toll fees and dog licenses. He called the U.S. government a "major user" of credit cards.
This is the third time in two years that Durbin has floated proposals aimed at curbing interchange fees. MasterCard and Visa have lobbied hard against any changes, as have the major banks that issue the cards. The fees represent a key revenue component for those banks, which have seen the CARD Act strip away or significantly reduce other sources of income in the last year.
Source :
So now the there is a cash back for credit card consumer
Using a credit card on vacation abroad is convenient and rewarding, often giving consumers cash back or airline miles.
But there's a hidden cost: as much as a 10% markup on all transactions. The little-known cost is due to two things: foreign-transaction fees and dynamic currency conversion fees.
A foreign-transaction fee is commonly assessed by credit-card companies when Americans make purchases outside the U.S. -- about 2% to 3% of the total. To keep costs down while traveling, it may be worth applying for a no-foreign-transaction-fee credit card before you go. Capital One(COF) offers the most number of these types of credit cards.
Dynamic currency conversion, on the other hand, is a strategy that merchants use to make extra money on electronic transactions made by travelers. They offer to convert your transaction into your home currency but, in doing so, charge a fee as high as 7% of the purchase and pocket the difference. That can be easily avoided by simply insisting that your transactions are paid in the local currency. Source
Using a credit card on vacation abroad is convenient and rewarding, often giving consumers cash back or airline miles.
But there's a hidden cost: as much as a 10% markup on all transactions. The little-known cost is due to two things: foreign-transaction fees and dynamic currency conversion fees.
A foreign-transaction fee is commonly assessed by credit-card companies when Americans make purchases outside the U.S. -- about 2% to 3% of the total. To keep costs down while traveling, it may be worth applying for a no-foreign-transaction-fee credit card before you go. Capital One(COF) offers the most number of these types of credit cards.
Dynamic currency conversion, on the other hand, is a strategy that merchants use to make extra money on electronic transactions made by travelers. They offer to convert your transaction into your home currency but, in doing so, charge a fee as high as 7% of the purchase and pocket the difference. That can be easily avoided by simply insisting that your transactions are paid in the local currency. Source
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