The Federal Reserve Board’s decision to cap debit-card swipe fees at 21 cents trims the amount of revenue banks would have lost under an earlier proposal, while roughly halving what retailers pay the banks each year.
Jennifer Cavallaro’s Twitter feed usually deals with matters like the free-range egg salad she serves at her Beehive Café in Bristol, Rhode Island. On May 17, 2010, she blasted a different message to her followers.
President Barack Obama held two meetings this week plotting strategy to maintain the Senate Democratic majority, while also pitching an issue that could put a vulnerable incumbent at risk: a minimum wage increase.
President Barack Obama signed an executive order raising the minimum wage to $10.10 an hour for U.S. government contract workers in the future, fulfilling a promise from his State of the Union address.
Bankers and retailers are resuming their fight over responsibility for losses from cybertheft as Congress weighs responses to a security breach at Target Corp. that exposed data from tens of millions of accounts.