This article is incorrect. The rule implemented a safe harbor for large card issuing companies that have to comply with rules regarding late fees. The safe harbor means issuers can charge $8 late fees and be sure they are in compliance.
Card issuers can still charge more than $8 for late fees. They just need to comply with existing regulation, specifically that whatever late fees they charge are “proportional” to their costs.
Don’t expect an $8 cap on late fees as a result of this.
Is oxygen flammable? I’m pretty well-educated and that question gave me pause. I know oxygen is involved in the combustion process, so I think the answer is yes, oxygen is flammable. That feels like a trick question though.
Hedge fund manager here. Depositors and banks are counterparties, and every financial institution & fund I’ve ever encountered does significant and ongoing diligence on their multiple banking relationships.
It’s hard to imagine how irresponsible these VCs and startups were.
It’s because someone could short (borrow) GBTC and redeem it for BTC for an immediate profit. The premium would disappear near instantaneously as short sellers captured the spread.
Labeling them as Ponzi schemes affords people in the US who lost money special tax benefits. It’s treated more similarly to theft than a bad investment. I am not sure about other countries, but in the US the label has real consequences.
I think you have it backwards. The supply of quality education hasn’t increased. Only the dollars chasing that supply have increased. Hence prices have gone up.
The title of this article is pretty offensive. I don’t want to read it. Is there some context that makes the racial slur appropriate here? Or we allow it because racism against white people is in vogue?
“Drugs are bad, mmkay” is something we teach kids at an age when they are unable to process more complex or nuanced positions.
It’s highly unlikely that you’ve never taken psychoactive substances—caffeine, for example, is found naturally in enough foods that it’s hard to avoid. Many spices produce psychoactive effects—e.g. vanilla, pepper, cinnamon, ginger, saffron, etc. I suspect it’s not your opinion that these are all bad as well.
Your kids at some point will be exposed to some of these things, and if “drugs are bad” is what you’re teaching them then they will understand, as we do, that your opinion on this subject really isn’t helpful.
Card issuers can still charge more than $8 for late fees. They just need to comply with existing regulation, specifically that whatever late fees they charge are “proportional” to their costs.
Don’t expect an $8 cap on late fees as a result of this.