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Sizzler Cleans Out Paralegal Bank Account. Jesus Can’t Help. The Problem With Debt Cards.

For years people continue to try and convince me that debit cards are better than credit cards. Those arguments just won’t fly because there is no getting around the basic fundamental problem of debt cards, they are a direct link into your bank account. Time and time again I’ve heard or read stories of people … Read more

Lobbyists Battle Debit Card Charges

ProPublica Controversy over the Fed’s proposed debit card regulations has largely focused on the proposed cap on interchange fees-the fees banks receive from merchants for processing debit transactions. That provision has sparked an all-out lobbying war between merchants who think interchange fees are too high and banks who accuse the government of attempting to fix prices. … Read more

Bank Groups Try to Scare Consumers Using Twitter

by Marian Wang, ProPublica It’s April 21, and another Dodd-Frank deadline has come and gone. Today was the day the Fed’s regulations on debit card transaction fees, also known as interchange fees, were supposed to be finalized. Hasn’t happened. Controversy over the regulations caused the Fed to postpone finalizing the rules. But that win alone … Read more

Behind the Battle Over Hidden Debit Card Fees

by Marian Wang, ProPublica A provision within the financial reform bill that would regulate debit card transaction fees could be postponed by a year or two following fierce objections from banks. Specifically, banks large and small are objecting to a Fed proposal to limit what are known as interchange fees — the fees they collect … Read more

Use a Debit Card from Chase Bank? Prepare to Have it Declined.

Chase Bank is talking about significantly reining in debt card transaction limits to $50 or $100. The reason, so the can make more money. Recent legislation capped the amount the bank can charge retailers per transaction for using a debit card. Currently it is 44 cents per debit card transaction but soon it will be … Read more

Debit Card & Credit Card Details Stolen at McDonald’s

A pair of card detail thieves have been caught in McDonald’s in Australia. Apparently the pair was getting card details from several Perth, Australia McDonald’s and managed to steal $4 million from Western Australia banks. Thousands of Western Australians have had their card details stolen at several McDonald’s restaurants across Perth since October. Police allege … Read more