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  2. How credit card companies make money - AOL

    www.aol.com/finance/credit-card-companies-money...

    There are plenty of excellent no-annual-fee credit cards out there, but cards with annual fees are often worth it for the right cardholder who can fully use the perks, features, rewards and ...

  3. Interchange fee - Wikipedia

    en.wikipedia.org/wiki/Interchange_fee

    Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...

  4. Regulator would cap credit card late fees at $8, part of ...

    www.aol.com/news/regulator-proposes-capping...

    The Consumer Financial Protection Bureau's new regulations will set a ceiling of $8 for most credit card late fees or require banks to show why they should charge more than $8 for such a fee. The ...

  5. Credit card issuers push back on $8 late fee cap with new ...

    www.aol.com/credit-card-issuers-push-back...

    By contrast, the average credit card rate on a general purpose card or bank-branded card has hit 20.66% — up from 20.23% a year ago and 16.4% on May 1, 2022, according to Bankrate.com data.

  6. Payment card interchange fee and merchant discount antitrust ...

    en.wikipedia.org/wiki/Payment_Card_Interchange...

    The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...

  7. Merchant account - Wikipedia

    en.wikipedia.org/wiki/Merchant_account

    A typical credit card terminal popular in 2005, now typically out of use and of a style/era usually non-compliant per PCI-DSS standards. A credit card terminal is a stand-alone piece of electronic equipment that allows a merchant to swipe or key-enter a credit card's information as well as additional information required to process a credit card transaction.

  8. Biden administration slashes credit card late fees to $8 ...

    www.aol.com/finance/biden-administration-slashes...

    The Consumer Financial Protection Bureau finalized a rule limiting credit card late fees to $8. The move could save 45 million people an average $220 per year on late fees.

  9. Durbin amendment - Wikipedia

    en.wikipedia.org/wiki/Durbin_amendment

    The Durbin amendment, implemented by Regulation II, [ 1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a ...

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