The credit card pound of flesh
Every time a customer uses a credit card to purchase something, the retail merchant pays an interchange fee to the credit card issuer. Levitin reports that in the U.S. total interchange fees added up to $48 billion last year. He theorizes that lowering the maximum interchange fee allowable would provide a "nice" stimulus to the economy -- without adding to government expenses. Full Story »
Posted by Kaizar Campwala
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