Bipartisn bill will ferret out the scum on both sides

[C_Clayton_Jones]

Where is the Constitutionality of them telling banks what they can charge for debit processing? I sure can't find it anywhere.

Here:

Article I, Section 8:

To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.

McCulloch v. Maryland – Case Brief Summary

FindLaw | Cases and Codes

 

[bluecoller-eddy]

To hell with computers.

We need Bob Cratchit and his quill pen.

---- bluecoller -- the grumpy old kraut-------

 

[Mad Scientist]

Banks have us on the hook for 1.5 Quadrillion in derivatives yet I'm supposed to be ticked off about ATM fees?

 

[TheBrain]

The government needs to be told enough is enough. If people are dumb enough not to realize what fees their bank is charging them and decide on their own whether they want to pay them, then that is THEIR fault, not the banks.

 

[Too Tall]

Why does anyone use debit by the way?

When I go to the store, they ask "debit or credit."

Credit is free, debit costs a fee, and both draw from the same place.

As I understand it, the bank charges a fee to the merchant and you never see the charge. This legislation cuts the fee banks are allowed to charge in half or so. This is supposed to lower the price the merchant charges you but the opinion I heard was the big chains will merely pocket the difference.

 

[TheBrain]

Why does anyone use debit by the way?

When I go to the store, they ask "debit or credit."

Credit is free, debit costs a fee, and both draw from the same place.

As I understand it, the bank charges a fee to the merchant and you never see the charge. This legislation cuts the fee banks are allowed to charge in half or so. This is supposed to lower the price the merchant charges you but the opinion I heard was the big chains will merely pocket the difference.

They do charge a fee. 3% of the purchase or $2.00 whichever is more is what my dad's automotive business pays to both Visa and Mastercard for each credit card transaction. He doesn't pay that, obviously the customer does.

 

[whitehall]

Debit card fee debate hits Senate / LJWorld.com


If they vote against the people and with the banks you will have a great idea who is bought

Simple cliches like "vote against the people" are what the left is all about these days. Rather than examining an issue they post what ever Soros or Huffington feeds them.

 

[Too Tall]

Why does anyone use debit by the way?

When I go to the store, they ask "debit or credit."

Credit is free, debit costs a fee, and both draw from the same place.

As I understand it, the bank charges a fee to the merchant and you never see the charge. This legislation cuts the fee banks are allowed to charge in half or so. This is supposed to lower the price the merchant charges you but the opinion I heard was the big chains will merely pocket the difference.

They do charge a fee. 3% of the purchase or $2.00 whichever is more is what my dad's automotive business pays to both Visa and Mastercard for each credit card transaction. He doesn't pay that, obviously the customer does.

The legislation applied to debit cards. I didn't see any mention of credit cards, but I didn't read the bill. It may apply to both.

 

[CrusaderFrank]

Its just not possible for average consumer to figure anything out for himself, the government needs to give us a card

 

[C_Clayton_Jones]

Simple cliches like "vote against the people" are what the left is all about these days. Rather than examining an issue they post what ever Soros or Huffington feeds them.

Irony post of the evening.