• Remember the financial bill? Oh yeah, that thing. One of the many feathers in Obama’s cap. Well, the bill, which has already passed the Senate, needed some changes to pass muster with the house. The biggest one for consumers and small businesses? The insanely high fees on debit card transactions, which were responsible for big profits for card companies at the cost of small businesses. Well – great news! – after a little work, the House finally struck a tentative deal on this issue. There are lots of other things to still hash out, though, including the biggie for investors (and people who don’t want to see their financial system fall apart) – regulating derivatives. source

Posted by Ernie Smith • Permalink