People are positioned and ready accordingly. Bill so part of that, the workers putting boxes and viles in freezer cases to be shipped across the country. The president calling it a modern day miracle. And Restaurant Owner Angela Marcon is here again. And first, be marc siegel with the vaccinations are underway. They continue. Doctor, how is it going . Bill, it was an honor to be invited into my Medical Center to witness this historic event. The trucks rolled as promised by general purna. Its v day. If first nurse here to be vaccinated, tara easter. I interviewed her. She said to me, you know, its an honor and she was shirks and side effects. Shes not worried about it. Shes going back to work tomorrow. Lets hear what she had to say about the vaccine. How do you feel about those that didnt make it this day to get the shot because it wasnt here . I think, you know, it was a very challenging time. Lots of patients and families went through a lot. Today is really exciting that we can move f
energy from the new committee chair and the republican side aened fa and from house republicans on the other side of the capital hill. i guess we ll have to say. i wachbnt to work on positive things and moving the country forward on what the bank kmits tee does on credit card reform, on helping with making credit available, all of the things we could be doing for low income people to get in the banking system. i m hopeful that s what we can do. unfortunately, 20 right language, to try to insert in bills to get weaker regulation on wall street. the shamefulness of this. less than a decade ago, these people drove the economy almost over the cliff and to come back and ask for weaker rules and
credit card abuse where i m paying on time, i ve never been late and yet they raised my rate retroactively on my balance and i can t get out of bill. that bill that cracked down on abusive practices, it took four years to pass and it was the first credit card reform in 30 years. and that s something extremely tangible. you mentioned dodd/frank and think that s really important and you mentioned brookly born was pushing derivatives on the exchange. they were on the exchange. they made the market opaque. you re actually co-sponsor of something called the swap execution facilities clarification act that rolls back part of dodd/frank that allows for more pretrade price tran parnscy on derivative. my question to you is if you disagree with brookly back then, why do you agree now? i m totally for transparency.
you could call it a swipeout. big banks looking for ways to get more money from you because new rules that limit how much they can get from you. thinking about limiting debit card purchases and putting higher fees if you use an atm. carmen wong-ulrich is minding your business. $28 billion of fee revenue goes away because of credit card reform. they re going to find new ways to get that money. they are going to. although they re doing well in other areas the banks. i m not so concerned about that, but the debit card dust-up continues. the saga continues. what is this all about? this is all about the swipe fees. every time you go to a retailer or small business, they pay 1.5% to 3% no matter how much you pay. this is a $16 billion a year business. but what the federal reserve is looking to do and after the
because of new rules likely to come in july from the fed, that could cap that at 12 cents. this is an interchange fee that created $16 billion in revenue for credit card companies. since they are going to get what they can take home cut, it might mean we restrict the transactions to be done. look, this is all part of wall street reform. cutting back on some interchange fees. there are other ways banks are trying to compensate for wall street reform. chase is testing a $3 monthly fee and we know free checking, fewer and fewer examples of free checking out there as they try to raise money in other ways because they can t raise interest rates without telling you ahead of time. these are all consequences, ali of credit card reform. the banks can find new ways to