Oversight of Federal Payment of Interchange Fees: How to Save Taxpayer Dollars PDF Download
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Author: Subcommittee of the Committee on Appropriations United States Senate
Publisher:
ISBN: 9781477596050
Category :
Languages : en
Pages : 76
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Book Description
Credit and debit cards are rapidly replacing cash and checks in today's economy, accounting for more than one-half of all retail sales in America, and that percentage is growing. Credit and debit cards are also used to buy nearly $30 billion a year in goods and services from our Federal Government. There are benefits to being able to use plastic for transactions, but there are also some consequences. Visa and MasterCard control 80 percent of the credit and debit card markets, and they have established a system of fees and rules that apply to every transaction conducted across their networks. Every time a credit or debit card sale is made, Visa and MasterCard take a cut of the transaction amount. Some of this cut they keep, but most of it is routed along to the bank that issued the card used in the transaction. This fee that they give to the card-issuing bank is called the interchange fee.
Author: Subcommittee of the Committee on Appropriations United States Senate
Publisher:
ISBN: 9781477596050
Category :
Languages : en
Pages : 76
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Book Description
Credit and debit cards are rapidly replacing cash and checks in today's economy, accounting for more than one-half of all retail sales in America, and that percentage is growing. Credit and debit cards are also used to buy nearly $30 billion a year in goods and services from our Federal Government. There are benefits to being able to use plastic for transactions, but there are also some consequences. Visa and MasterCard control 80 percent of the credit and debit card markets, and they have established a system of fees and rules that apply to every transaction conducted across their networks. Every time a credit or debit card sale is made, Visa and MasterCard take a cut of the transaction amount. Some of this cut they keep, but most of it is routed along to the bank that issued the card used in the transaction. This fee that they give to the card-issuing bank is called the interchange fee.
Author: United States. Congress. Senate. Committee on Appropriations. Subcommittee on Financial Services and General Government
Publisher:
ISBN: 9780160879920
Category : Consumer protection
Languages : en
Pages : 72
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Book Description
Author: Board of Governors of the Federal Reserve System
Publisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
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Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author: United States. Congress
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 1384
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Book Description
The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
Author: United States. Congress
Publisher:
ISBN:
Category : United States
Languages : en
Pages : 664
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Book Description
Author: U.s. Department of the Treasury
Publisher: Createspace Independent Publishing Platform
ISBN: 9781522943518
Category :
Languages : en
Pages : 144
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Book Description
Welcome to the Green Book a comprehensive guide for financial institutions that receive ACH payments from the Federal government. Today, the vast majority of Federal payments are made via the ACH. With very few exceptions, Federal government ACH transactions continue to be subject to the same rules as private industry ACH payments. As a result, the Green Book continues to get smaller in size and is designed to deal primarily with exceptions or issues unique to Federal government operations.
Author: Chris Edwards
Publisher: Cato Institute
ISBN: 1933995513
Category : Political Science
Languages : en
Pages : 263
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Book Description
The federal government is running huge budget deficits, spending too much, and heading toward a financial crisis. Federal spending soared under President George W. Bush, and the costs of programs for the elderly are set to balloon in coming years. Hurricane Katrina has made the federal budget situation even more desperate. In Downsizing the Federal Government Cato Institute budget expert Chris Edwards provides policymakers with solutions to the growing federal budget mess. Edwards identifies more than 100 federal programs that should be terminated, transferred to the states, or privatized in order to balance the budget and save hundreds of billions of dollars. Edwards proposes a balanced reform package of cuts to entitlements, domestic programs, and excess defense spending. He argues that these cuts would not only eliminate the deficit, but also strengthen the economy, enlarge personal freedom, and leave a positive fiscal legacy for the next generation. Downsizing the Federal Government discusses the systematic causes of wasteful spending, and it overflows with examples of federal programs that are obsolete and mismanaged. The book examines the budget process and shows how policymakers act contrary to the interests of average Americans by favoring special interests.
Author: Chris Berg
Publisher: Edward Elgar Publishing
ISBN: 1788975006
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
Blockchains are the distributed ledger technology that powers Bitcoin and other cryptocurrencies. But blockchains can be used for more than the transfer of tokens – they are a significant new economic infrastructure. This book offers the first scholarly analysis of the economic nature of blockchains and the shape of the blockchain economy. By applying the institutional economics of Ronald Coase and Oliver Williamson, this book shows how blockchains are poised to reshape the nature of firms, governments, markets, and civil society.
Author: David S. Evans
Publisher: MIT Press
ISBN: 9780262550581
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
The definitive account of the trillion-dollar payment card industry. The payment card business has evolved from its inception in the 1950s as a way to handle payment for expense-account lunches (the Diners Club card) into today's complex, sprawling industry that drives trillions of dollars in transaction volume each year. Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and spend. More than a history book, Paying with Plastic delivers an entertaining discussion of the impact of an industry that epitomizes the notion of two-sided markets: those in which two or more customer groups receive value only if all sides are actively engaged. New to this second edition, the two-sided market discussion provides useful insight into the implications of these market dynamics for cardholder rewards, merchant interchange fees, and card acceptance. The authors, both of whom have researched the industry for more than 25 years, also examine the implications of the recent antitrust cases on the industry as well as other business and technological changes—including the massive consolidation brought about by bank mergers, the rise of the debit card, and the emergence of e-commerce—that could alter the payment card industry dramatically in the years to come.
Author: United States. Congress. House. Committee on Oversight and Government Reform
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 652
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Book Description
