Credit_Card_Guy

Why Credit Card Interchange Fees Should Come Down

Their profitability won't be wiped out. It simply will be reduced, and only momentarily. I'll bet you a dollar that a year from now, cardholders will be paying a series of newly invented fees whose names we do not know now.
As was pointed out this week in the New York Times, credit unions issue credit cards that already by and large comply with the CARD act's tenets, and they are consistently profitable. www.nytimes.com/2009/0...


On Jun 25 06:32 PM Ralph M. wrote:

> The card issuing banks just got hammered by the CARD Act legislation
> - to the point where their profitability has been virtually wiped
> out. More turmoil is the last thing this industry needs right now.