> “If you were to lower interchange fees, you probably have to also lower rewards,” Joanna Stavins, principal economist and policy advisor at the Federal Reserve Bank of Boston told CNN last month. That’s because “rewards are financed by interchange fees.”
Yeah, the only money Visa/MC make is from fees. I think we ought to take away her business and economic degrees - she's just trying to keep her piece of the pie by literally being a mouthpiece that's "independent". I'm sure they have industry insiders everywhere to make sure things happen they way they "need" to.
raw_anon_1111•36m ago
That is the only money that Visa and MC makes. Annual fees and interest go to the banks.
almosthere•50m ago
Yeah, the only money Visa/MC make is from fees. I think we ought to take away her business and economic degrees - she's just trying to keep her piece of the pie by literally being a mouthpiece that's "independent". I'm sure they have industry insiders everywhere to make sure things happen they way they "need" to.
raw_anon_1111•36m ago