Swipe-Fee Rule Rejection Helps Merchants and Banks’ Cost

Before Federal Reserve regulations cut back on perks such as reward programs and free checking to soften the blow, Lenders collected about $16 billion annually from swipe fees. Unless overturned, the decision will force regulators to revisit rules that bankers said would cost them 45% of their swipe-fee revenue.

Credit and Debit Card Issuers Agree to a $7.25 Billion Settlement with US Retailers

“This is a historic settlement,” said Bonny Sweeney, a lawyer for the plaintiffs. The settlement “will help shift the competitive balance from one formerly dominated by the banks which controlled the card networks to the side of the merchants and consumers,” said Craig Wildfang, who also represented the plaintiffs.

Prepaid Debit Cards vs. Secured Credit Cards

Prepaid Debit Cards vs. Secured Credit Cards: What’s the difference? Most people assume they are the same, but there are some striking differences. While they both offer guaranteed approvals, requiring you to use your own money for deposits, there are some striking differences.  This article will help you assess your situation and determine just which… Continue reading Prepaid Debit Cards vs. Secured Credit Cards

Fifth Third Bank’s New ‘Stand Up to Cancer’ Debit Card Offering Drives Funding for Cancer Research

Fifth Third Bank this week announced the launch of the Fifth Third Stand Up to Cancer Debit MasterCard.  Stand Up To Cancer is a groundbreaking initiative that facilitates scientific collaboration to accelerate innovative cancer research and bring new therapies to patients quickly.  The card is now available by visiting any of the Bank’s more than… Continue reading Fifth Third Bank’s New ‘Stand Up to Cancer’ Debit Card Offering Drives Funding for Cancer Research

Reports Show Bank Customers Need More Protection From Debit Card Overdraft Fees

A report released this week by the Consumer Financial Protection Bureau shows bank customers need more protection from debit card overdraft fees.  The report focuses on overdraft fees banks charge customers when they overdraw their checking account with a debit or ATM card. Before mid-2010, when customers didn’t have enough money on their checking account… Continue reading Reports Show Bank Customers Need More Protection From Debit Card Overdraft Fees

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