To: SeekAndFind; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; ...
RE "
Hold on to your wallet: The Durbin Amendment goes into effect Saturday. The once-obscure amendment to the Dodd-Frank financial-reform bill limits interchange fees, which banks charge to merchants for providing the service that allows stores to accept debit-card payments. The fees were cut by some 80 percent, which makes it less profitable for banks to offer debit-card services. So the banks have done the natural thing and begun to transfer the fee from merchants to their customers, with Bank of America announcing a new $5-per-month fee for debit-card users. Naturally, the amendments author, Sen. Dick Durbin (D., Ill.) is in a rage, complaining that the banks are sticking it to consumers. He ought not be surprised: What is happening is precisely what was predicted by industry experts and by the banks themselves. Running a debit-card network costs money, and banks are not going to do it for free or suffer reduced profits gladly."
Standard liberal procedure, blame others for THEIR own failed policies.
14 posted on
10/03/2011 10:33:57 AM PDT by
sickoflibs
(Over-taxed means 'paying too much in taxes', not zero taxes)
To: sickoflibs
And let us not forget when Durbin called our troops Nazis.
26 posted on
10/03/2011 4:59:45 PM PDT by
Marine_Uncle
(Honor must be earned....Duncan Hunter Sr. for POTUS.)
To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...
27 posted on
10/03/2011 8:41:02 PM PDT by
SunkenCiv
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