Revenue model needs revision
Big banks have relied increasingly on fees to pad their revenues - as much as 40 percent of their annual revenues in some cases. Late fees, bounced check fees, near-usurious interest rates ... and a little known credit card fee on merchants often called the interchange fee, or swipe fee.
American consumers pay among the highest swipe fees in the industrialized world - up to $2 of every $100 spent by credit cards goes to banks in the form of these interchange fees.
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