Consumers looking to reduce debt may have turned to using online payment services instead of traditional credit cards, and three of the nation’s leading financial institutions are attempting to capitalize on the sea change in the industry
The Nevada Taxicab Authority, which regulates the cab industry in Clark County, would be required to set the credit or debit fee charged based on those figures. The fee would only be allowed to cover costs.
“The idea that there was going to be huge portion of cards charging annual fees as a result of the CARD act definitely has not materialized,” says Fichera.
The organization and many other consumer groups support the fee cap. Mr. Mierzwinski, who has worked on the debit and credit card fee issue for six years, said he doesn’t know of anyone who has changed sides. But he believes he understands the banking industry’s strategy. “Delay equals killing reform.”
Ajay Banga leads a company that is synonymous with plastic, yet he encourages his staff to focus on cash.
Despite increases in volume and advancements in technology,
To nobody’s surprise, credit cards are still imposing fees on their customers.