Word: bankses
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Banks began charging interchange fees in the 1960s to cover the cost of processing credit-card transactions. "But even as technology has dropped that cost dramatically, banks and credit-card companies have pushed swipe fees higher and higher, turning it into a cash cow," the report notes. "For many businesses...
I've seen criticism that argues the title of your book is almost unpatriotic. Why'd you use such a provocative title? The title actually came partly from a spin-off of a famous cover of Newsweek that ran after 9/11, which was "Why They Hate Us." The title was...
It was only last spring when Obama made clear that he was expecting a fight over the biggest change in the federal student-loan program since its 1965 creation. "The banks and the lenders who have reaped a windfall ... have mobilized an army of lobbyists to try to keep things...
Obama's rhetoric was understandable. His plan is to do away with a system in which the Federal Government subsidizes banks and other private finance companies like Sallie Mae to lend money to students. The Administration essentially wants to cut such companies out of the game and run the system...
Educational institutions currently have two ways to offer federal loans to students. In the Federal Family Education Loan (FFEL, pronounced "fell") program, the government pays subsidies to banks and lenders to dole out money to borrowers and reimburses companies up to 97% of the cost of any loan that is...