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$101.11
It’s a record price at the pumps, which again raises the question: why are the banks allowed to reap windfall profits during our nation’s economic energy crisis?
As more motorists are forced to pay with plastic – due to the record costs to fill up their tanks, Visa, MasterCard and its thousands of member banks are earning windfall profits. They demand a percent of each sale for each credit card transaction, even though the interchange fee cost is nearly zero (it is estimated that the actual fees to process electronic payments are about 13% of the total interchange fees collected).
Related Links
FAST FACT: Record gas prices leads to possible profiteering and windfall for credit card companies
Crude-oil Futures Hit $100 a Barrel on Nymex
More Oil Profiterring. A Barrel of Gas Now at $86
Oil Jumps to Nearly $100, Generates More Interchange Fee Profiteering
Oil Surges Past Record High, Above $78 a Barrel; Yields More Windfall Profiteering For Banks
Interesting Question: Why Only Cap Interchange Fees At The Pumps?
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