Monthly Archives: March 2011

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The Durbin Chickens Start Coming Home to Roost

While no thunderclap, JPMorgan Chase’s decision this week to drastically cut its debit rewards program is certainly indicative of what consumers should expect as a result of the post-crisis legislative and regulatory onslaught on the payments industry. Alone, actions like this by PNC Bank, Chase and Regions, among others, are probably not enough to pry many
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Consumers Look to Credit Cards for Time, Not Money

You heard it here first, folks. The New York Times reported March 2 that “American shoppers did not shed their reliance on credit cards over the year-end holidays.” As to why they used credit cards, The Times notes that “retailers tend to benefit from credit card spending, as it often means people are spending beyond their
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