All Posts Tagged With: "bank of america"

post thumbnail

Merchant Service Providers May Get Shafted

Rumor has it that those who depend heavily on residual income, aka Merchant Service Providers, may get shafted in 2008. Seems like many banks are starting to feel the pinch and sources say that some banks including Wells Fargo (NYSE WFC) and Bank of America (NYSE BAC) are considering reducing or even eliminating some […]

23Jan2008 | Riley Poole | 3 comments | Continued
post thumbnail

Check your Interest Rates and Grace Periods “AGAIN”

I always find it interesting when banks take an old tactic that has lost steam and just propped it up again. A few years back, many banks saw consumer backlash for holding onto payments past their grace period to ultimately charge consumers those pesky late fees. They add up, too: imagine paying $100 a month […]

17Jan2008 | Riley Poole | 10 comments | Continued
post thumbnail

Paypal More Successful Than American Express and Discover Combined

Okay, so it’s official. Bank of America (NYSE BAC) to buy Countrywide (NYSE CFC) for $4 Billion in stock. Whoopdy-doo. (finger-in-air) I mean, seriously, hasn’t everyone written off the housing market by now?
What I find more interesting is the rumor of eBay (NASDAQ EBAY) getting bought out by Yahoo (NASDAQ YHOO) And what I find […]

11Jan2008 | James Blunts | 14 comments | Continued
post thumbnail

First Data Guns Down Merchants

Effective today, First Data has just terminated all of its firearm merchants selling in non face-to-face transactions. For those of you not familiar with credit card processing, First Data is responsible for more than 60% of payment processing in the United States. They have not only terminated many of these legitimate and established merchants but […]

8Jan2008 | Riley Poole | 31 comments | Continued
post thumbnail

Merchant Service Providers Encourage Fraud and Chargebacks

So here is how the scam works, once one of the merchant providers hint at a problem with a merchant, they will begin applying restrictions, making unreasonable demands and reducing limits, all in the efforts to distract the end merchant. When the merchant eventually falters, the merchant service provider will hold back several weeks of […]

8Jan2008 | Riley Poole | 5 comments | Continued

 Subscribe in a reader or Subscribe by Email