Credit Card monopoly

They take CC’s right ? lol

At least I pay Sysco and US food by CC and go on vacation with the points… small compensation for the amount of CC fees I pay each year though.

I’m guessing you didn’t understand my statement. So, I’ll spell it out;

In most class action lawsuits, the attorneys make out like bandits, while the people who joined the class action suit to be represented by the attorneys typically only get a small pittance or some remedy that is next to useless.
Have you ever wondered why so many law firms advertise open class action suits on TV?
We currently see suits against talcum powder, testerone supplements, car ignitions, airbags etc etc etc.
The victims typically get next to nothing, while the attorneys make millions upon millions.

No i completely understood what you where saying. I despise class actions just as much as you. But in this rare instance i was just pointing out that they are actually part of those who would get nothing in return. Except a break on the fee’s.

I would be happy with a break on the fees going forward! Lawyers can keep the rest. Considering the amount of “points” they can hand out it seems to me that they should be able to cap total CC costs at 1.5%. I would be happy with that.

I think the point of the class action suit is to demand change… financial restitution is really an afterthought and as mentioned, goes to the lawyers anyway. I’m not interested in my 16.00 check, I’m interested in long-term changes to policy that could put more money in my pocket and the pockets of those that work for me.

With all of the talk over minimum wage increases of up to $15 an hour over the next few years… it would be nice to have a ‘win’ in this area.

Yeah, about that!
I will walk away from this game if it comes to $15.00/Hour
I’ve always looked at minimum wage as an employer saying “If I could legally pay you less, I would!” I always started my crew above minimum, and well above this area’s standard starting rates so I could attract quality people.
But after this last summer, with several of the people I brought on board, Minimum wage was truly undeserved by a large percentage of them. No way I will ever pay $15.00 for entry level people.
These rat-bastards I dealt with should have felt guilty for making anything above minimum.
You come to me with minimum skills, minimum contribution to the workplace, yet I am supposed to pay above minimum? KNOT!

well that does not work well for me…This is posted at delco and presto does not take CC and Sysco also told me there is a 7% fee on CC purchases

Illegal to add CC fee in Colorado.

haha Indiana charges fee for me to PAY them the state sales tax, On a side note calling into them is a major pain in the ass. So many fees so hard to grasp

Yes, Colorado legislators exempted the state from the law too… so only they can charge a fee. Go figure.

I am enjoying getting all the phone calls and emails and some letters since forwarding this initial post to all the representatives. Not that they really care or will do anything…ugh!

On a somewhat related note my local coffee shop ( local chain with about 10 locations ) have rolled out an app that lets me pay with the app. When I installed the app I had to give it my credit card info. When I pay for something in the coffee shop I just hand them my phone and it shows a QR code that they scan. The genius part for the coffee shop is that they only charge my credit card once a month. So they only have a single swipe fee for my 4 or 5 monthly transactions.

So… who is it that has your credit card info? We go out of our way never to store customer card info.

Here’s a copy of the response I received from my state representative.

Thank you for contacting me regarding financial regulation and the Dodd-Frank Wall Street Act of 2010 (P.L. 111-203). I appreciate having the benefit of your comments on this matter.
I share the concerns of many Texans that Dodd-Frank will do more harm than good to our economy and our financial system. I voted against this legislation because it dramatically increases the size and scope of the federal bureaucracy and institutionalizes “too big to fail”—the notion that Washington will bail out certain large financial firms if necessary. Such implicit government protection distorts our credit system by making it easier for a select number of massive companies to raise capital. This puts the small business community, which was not responsible for the financial crisis, at a competitive disadvantage. Without adequate access to credit, small businesses cannot pay their employees, and working families cannot receive the loans necessary to send their children to college or purchase a new home or car.
I understand the challenges that small and community banks face in today’s regulatory environment and appreciate the difficulties many experience in the regulatory examination process. For this reason, in the 113th Congress, I cosponsored the Financial Institutions Examination Fairness and Reform Act (S. 727), which would have provided much needed relief to community and local financial institutions by requiring federal regulators to provide a final examination report to financial firms, streamline the regulatory treatment of certain loans, and establish a new appeals process for lenders. I also cosponsored the Financial Regulatory Responsibility Act of 2013 (S. 450), which would have held financial regulators accountable for rigorous, consistent economic analysis on every new rule they propose. Both bills would have improved the transparency and accountability of the regulatory process and reduced the burdens imposed on our community lenders. Although S. 727 and S. 450 were not enacted prior to the adjournment of the 113th Congress, you may be certain that I will keep your views in mind as Congress considers legislation affecting financial regulatory reform during the 114th Congress.
I am honored to represent Texas in the United States Senate. Thank you for taking the time to contact me.

United States Senator

Does anyone understand what this guy is trying to say?

For one, he’s probably not saying anything. It’s probably a cut and paste response put together that his office sends people. He most likely never saw your message. But basically, it’s saying “It’s not my fault. I tried to fight it. Vote for more of my party and we’ll fight for you.” I’m just jaded because neither party really cares about small business specifically. It’s all about if you have enough money to lobby them or not and the big guys always will. All we can do is hope it affects someone more powerful than we are, and we can ride the coattails of the change their dollars bring. Both parties have had their time in charge and have done about the same damage. I just chalk it up to the cost of doing business and, one way or another, pass those costs along in my final product.

That is just the verbal version of smoke being blown up your bunghole in the form of a canned response clearly written in leaglese with a midwestern dialect.
What, you don’t speak politician?

Houston Pizza, John Cornyn’s staff has sent you his boilerplate position statement on large banks, bailout philosophy, access to credit, etc. Moreover, he has reinforced his party position relative to smaller, not larger government. And his staff’s first impulse was to reckon that monitoring “pass through” legislation directed to big banks (Visa and Master Charge) would involve more government monitoring to enforce that kind of regulation. What I think many like Cornyn fail to understand is that monitoring wouldn’t be a new requirement … just pass the limiting fee legislation, and let the users and the courts handle the policing … by that I mean that we, as retailers, would file suit, when gouged, or some law firm would be willing to file a class action suit calling for a large money judgement (that’s how they would get paid) AND an order from the courts that the CC companies cease and desist the unlawful practices. I know that I’ve likely over-simplified life as we know it, but politicians won’t take us seriously until we demand it.

Thank you for taking the time to write out that thoughtful post on cc processing costs. I too forwarded that to my state rep here in lower michigan. Im anxious for the response.