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.
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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.
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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:
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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.
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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.
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URL: http://www.sfexaminer.com/taxonomy/term/4760?page=0%2C0%2C0%2C1
