credit card
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FRB seeks comments on maximum interchange fee that a large debit card issuer can receive for a debit card transaction
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20231025a.htm As I read this, it occurred to me that this interchange fee is an analogue of gas fees in a crypto system. The most well known cryptos (Bitcoin, Ethereum) have crazy high transaction costs, but there are numerous... -
US Consumer Debt growing
https://www.cnbc.com/2023/02/16/consumer-debt-hits-record-16point9-trillion-as-delinquencies-rise-as-well.html Rising rates are causing increased mortgage debt in spite of declining originations. CC debt growing thanks to double whammy of inflation at the store and rising rates on servicing...