With rising interest rates, the cost of the money tied up between transactions and payment due dates must be deemed to be more than than the fee revenue.
jswag
the cost of the money tied up between transactions and payment due dates must be deemed to be more than than the fee revenue.
That would be the “float” mentioned above by beef. That float needs to be in the hands of big bank, big business, not in the hands of lowly consumers.
Berkshire Hathaway is the supreme king of float.