WHAT: New York City authorities indicted 111 suspects in a $13 million identity theft ring described as the biggest in U.S. history. The gang had ties as far away as Africa and spent their loot on nationwide shopping sprees, five-star hotels and private jets. Read More
It is true that taxicab drivers pay for processing credit cards. Nobody likes fees, but they are a cost of doing business. The generous tips added by many San Francisco credit card users more than make up for the typical $5-$7 per day that drivers pay for processing payments. Read More
When Boeing wants some cash flow, it doesn’t use a credit card. But Mom and Pop do. John Berlau, in a letter to the editor, informs the Washington Post of how new credit-card regulations hurt small business: Read More
Paying for taxi fares with credit cards would become universal in The City under a new rule being considered by the agency that oversees cabs. Read More
WHO: Citigroup Inc.
WHAT: The bank for years automatically “swept” money from positive balances created by overpayments or refunds out of customers’ credit card accounts and into its own coffers without any notification. Read More