The coolest place on the internet, according to this tagline.
AskArchiveFAQ

May 16, 2013
19:41 // 1 year ago
October 29, 2011
9:51 // 2 years ago
October 28, 2011
8:35 // 2 years ago
October 5, 2011
It may be too early now to talk about the Law of Unintended Consequences, but years from now, we may owe a debt to reforms like Dodd-Frank for finally weaning us off the physical wallet and encouraging us to experiment with the new technologies helping to create the Digital Wallet.
The Washington Post’s Dominic Basulto • Arguing that Dodd-Frank’s side effects — such as Bank of America's decision to start charging people for the right to use a debit card — will be great in the long run, because it will push consumers and businesses to stop relying on banks for these sorts of services, instead going for phone-based options, provided by companies such as Google or Square, instead. Basuito compares Bank of America's controversial move to Netflix's price-raising scheme, and suggests it will hurt them long-term. source (viafollow)
1:01 // 2 years ago
September 29, 2011
12:24 // 2 years ago
June 8, 2011

Senate goes back-and-forth fighting over debit card fees

  • 44¢ the average cost of debit card interchange fees to merchants; this should make you feel guilty every time you go to 7-Eleven, because that cuts into profit margins heavily
  • 12¢ the limit that the Feds plan to impose upon banking companies about this matter; this is a $16 billion/year business, and banking companies are fighting to protect it source

» A fight that directly affects small businesses: We’ve been to many small businesses in our day that have gone out of their way to avoid using debit cards, specifically for this reason. We’re with them in this case; really high charges for every purchase, even tiny ones, is straight up greedy. Fortunately, a key senator, Dick Durbin, agrees with us: ”Honestly, are we going to stand here and say we can’t protect small businesses across America struggling to survive?” The fight for keeping the fees has bipartisan support; the main guys backing banks in the Senate are Bob Corker (R-TN) and Jon Tester (D-MT). They claim that banks will have to replace the interchange charges with higher fees on consumers. Maybe they should; the benefit to small business as an economic driver makes it worth it.

Read ShortFormBlogFollow

11:21 // 3 years ago