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MasterCard faces $18.6 billion lawsuit over excessive fees
Ed AdamczykLONDON, Sept. 9 (UPI) -- MasterCard faces an $18.6 billion lawsuit in Britain, charged with applying excessive fees on millions of transactions between 1992 and 2008.
20 points by UPI | United Press International News World Communications International News Service William Randolph Hearst Law MasterCard Walter Cronkite Credit card
MasterCard faces record $18.6B lawsuit over excessive fees
MasterCard is being sued for $18.6 billion in Britain for allegedly charging excessive fees on millions of transactions over a 16-year period.
4 points by Las Vegas Review-Journal | Debit card Pleading European Union Consumer protection United Kingdom MasterCard Consumer Maestro
MasterCard sued for $19bn in Britain’s biggest damages claim
The leading global payment company MasterCard is being sued for £14 billion ($19 billion) in damages. The company allegedly charged its 46 million UK customers excessive fees for using its cards. Read Full Article at RT.com
143 points by Russia Today | Law Debit card Credit card European Union Consumer protection MasterCard Treaty of Lisbon Consumer
Russia's banking system has SWIFT alternative ready
If the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is shut down in Russia, the country’s banking system will not crash, according to Central Bank Governor Elvira Nabiullina. Russia has a substitute. Read Full Article at RT.com
-1 points by Russia Today | Vladimir Putin Russia Bank Boris Yeltsin Russia–Ukraine gas disputes 2016 Beslan school hostage crisis MasterCard
Baltimore restaurant moves to cashless transactions
BALTIMORE (AP) - After being held up at gunpoint for the fifth time in four months, the Park Cafe & Coffee Bar made a radical change for a business that relies on small transactions. A sign on the Bolton Hill cafe's door explains: "Due to the recent robberies and continued ...
1 points by The Washington Times | Debit card Credit card MasterCard Cheque Euro Money Payment EMV
Park Café's move to cashless part of larger shift toward cash-free business
After being held up at gunpoint for the fifth time in four months, the Park Cafe & Coffee Bar made a radical change for a business that relies on small transactions.A sign on the Bolton Hill cafe's door explains: "Due to the recent robberies and continued crime in the neighborhood we are no longer...
-2 points by Baltimore Sun | Debit card Credit card Cheque MasterCard Euro Payment Money EMV
Wells Fargo scam latest in a string of infractions
The shadow account fraud is just the latest regulatory black eye for the bank.         
1604 points by Arizona Republic | Bank of America Credit card JPMorgan Chase MasterCard Wells Fargo Citigroup Visa Inc. Federal Housing Administration
Wells Fargo scandal looks like a vast uprising of disgruntled employees
Two basic principles of management, and regulation, and life, are: - You get what you measure. - The thing that you measure will get gamed. Really that's just one principle: You get what you measure, but only exactly what you measure. There's no guarantee that you'll get the more general good thing...
-1 points by Chicago Tribune | Bank Cheque Debit card Credit card Wells Fargo Banking MasterCard Bank of America