In response to the recently passed financial reform legislation, the Federal Reserve has begun work on imposing fee limits on debit-card transactions charged by big banks. Banks are unhappy about this, because every time a clerk swipes a card, a few coins jingle into their pockets. Now, billions of dollars in revenue are at stake. Read More
Wall Street observers who’ve been worried that consumers’ inability to pay their credit cards will exacerbate the financial-services industry’s troubles can breathe a tiny sigh of relief. A study by credit reporting firm TransUnion shows that credit-card users are working hard to pay down their mountainous debt, and in the second quarter the average credit-card balance Read More
On Tuesday, Feb. 23, a sturdy and completely bald Israeli named Yuval Tal was in Las Vegas’ Rio All-Suite Hotel & Casino, where the nightly entertainment includes the Chippendales and Penn & Teller.
Mr. Tal, behind a microphone in a blazer and open-collar shirt, was one of five international visionaries, as the brochure for Read More
From today’s Wall Street Journal:
In March, consumers had a record $957 billion of credit-card and other types of revolving debt outstanding — up about 8% from a year earlier, according to preliminary data from the Federal Reserve.
