Credit Card Fees
A Philadelphia City Council committee has sided with waiters and waitresses over restaurant owners.
Councilman Jim Kenney won’t divulge the names of the restaurants, but he says he’s heard of several that deduct the three percent processing fee charged by credit card companies directly out of the money specified by customers for a tip.
The banking industry was hit with some of the most dramatic and sweeping reforms in history this year. Consumers are supposed to save millions from new rules limiting certain fees and interest rate increases. But as 3-On Your Side’s Jim Donovan points out, banks are in the business to make money! So you need to pay attention.