New Orleans Finally there is some small notice of the fact that banks are abandoning the poor and their neighborhoods. A report from the FDIC (Federal Deposit Insurance Corporation) found that almost 1000 net branches had been lost in 2010. Certainly not surprising to anyone is that the loss has been much higher in lower …
Tag: financial reform
Debit Charges and Senate Hucksters
New Orleans The Dodd-Frank Financial Reform Act called for the Federal Reserve to put an end to the debit card surcharge padding when that retailers were paying to banks and credit card companies, usually amounting to 44 cents a transaction. New Fed proposals would cap the amounts at 7 to 14 cents, about an 80% …
Gold Hidden in Dodd-Frank
New Orleans Wow! A seasonal surprise!! It turns out that there were a couple of pieces of gold hidden in the hills and valleys of the Dodd-Frank Financial Reform Act that I had overlooked and that have international impact. Retailers are required to report annually on the origin of minerals used in products from war-torn …