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7-Eleven Asks Consumers To Help Fight Credit Card Companies
7-Eleven plans to serve up your next Slurpee with a petition to Congress protesting unfair credit card fees. No, the fees aren’t unfair to you, they’re unfair to 7-Eleven. The vendor of last resort is...
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Merchants Demand Credit Card Fee Relief
Merchants are pushing for more credit card fee reform, for the fees they have to pay. Every time you swipe at checkout, whether it’s a credit or debit card, the merchant has to pay two fees. One is a...
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The Hidden Fee That Happens Every Time You Swipe Your Credit Card
It’s invisible to you but each time you swipe your credit card, a fee fairy gets its wings. An interchange fee fairy, to be exact. How does it work? This chart from the Government Accountability Office...
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Why Don't I Get The Cash Discount For Gas When I Pay With My Debit Card?
David writes that he recently had a confusing experience at a gas station, and he wanted some clarification. He’s used to receiving a cash discount when he pays with his debit card at gas stations, but...
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Chase Killing Debit Card Rewards In July
With new regulations coming that will limit interchange fees, the amount of money banks charge retailers for debit card transactions, Chase has already begun testing $5 ATM fees and is considering...
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Wells Fargo & SunTrust Cancel Debit Rewards Programs
Last week, we wrote about JPMorgan Chase’s decision to get rid of rewards programs for debit card users in response to a new law that will slash the amount of money banks receive per debit card...
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Chase Will Reinstate Debit Card Rewards If Fee Overhaul Is Delayed
Chase has pledged to reinstate debit card rewards programs if the cap on fees it collects from merchants per debit transaction, scheduled to go into effect July 21st, is delayed. “Chase had to make...
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Senator Durbin To Chase CEO: You're Already Gouging The Consumer, So Stop...
The main reason that JPMorgan Chase and other big banks have given for things like $5 ATM fees and prohibitive caps on debit card purchases is a soon-to-be-enacted bit of legislation known as the...
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VISA And Mastercard Plan To Hike Debit Card Fees On Small Items For Merchants
VISA and Mastercard are planning to sharply raise the debit card transaction fees for small purchases for merchants, according to an analyst note. A $2 cup of coffee incurs about an 8 cent fee...
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Walmart Comes Out Against Credit Card Swipe Fee Settlement
Earlier this month, when the Visa and MasterCard announced a massive settlement in the legal battle over credit card swipe fees, it looked like the seven-year-old dispute had finally come to an end —...
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Appeals Court Resurrects Fed’s Debit Card Swipe Fee Limits
(Aubrey Arenas)In a move that will please banks and annoy retailers, a federal appeals court has overruled a lower court decision on swipe fees — the amount banks charge retailers for each debit card...
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