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US orders Discover to refund $200M to cardholders

Discover Bank will pay millions in fees to settle accusations by U.S. regulators that it pressured credit card customers to buy costly add-on services like payment protection and credit monitoring. Discover, the sixth-biggest U.S. credit card issuer, will pay a $14 million fine and refund $200 million directly to more than 3.5 million customers, federal… Continue Reading US orders Discover to refund $200M to cardholders

Every time someone used a credit card to pay for a drink at Westside coffee shop Agia Sophia, credit card companies charged the business up to 50 cents, plus a percentage of the sale, just to make the transaction. “When someone is charging a $3 cup of coffee, that’s a lot,” said owner Kristin Kennedy.… Continue Reading Card-swiping accessory replacing credit card machines

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Banks biting back

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Proposed debit card regulations have pitted the nation’s financial institutions against retailers — but consumers could be the ones caught in the middle. At issue is more than $12 billion in annual debit card processing fees, money that merchants pay to banks to process debit card transactions. The regulations, part of the Dodd-Frank legislation that… Continue Reading Banks biting back

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No fee for carry on luggage

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Five major U.S. carriers have agreed not to follow the lead of a small Florida airline that plans to charge for carry-on bags. Their commitment comes just in time to keep travelers from running for the exits during the peak summer flying season, but it is doubtful that it marks a change in strategy. Airlines… Continue Reading No fee for carry on luggage

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To ensure a more sustainable funding structure, the City of Colorado Springs should consider implementing new taxes and fees, extending or increasing existing taxes and fees, reducing existing tax exemptions, and augment or modify the way it provides services. Continue Reading SFC recommends higher taxes, fees

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