New Limits On Swipe Fees Mean Banks Will Up Fees On Other Services

7:09 AM, Jun 20, 2011   |    comments
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Greensboro, NC -- Right now businesses pay about 44 cents every time you swipe your debit card; at the end of July that fee drops to 12 cents.  It sounds good to businesses, but they will likely see other bank fees go up. The Business Journal reports "the US Senate failed to pass a bill last week that would have delayed the implementation of the swipe fee provisions of the Dodd-Frank financial reform law until after a six-month study of its potential effects."

Greensboro, NC -- VF Corp. will buy Timberland.  The Business Journal reports the boot and clothing maker will help VF make the transition from the intimate apparel business to the outdoor and action sports arena.

Greensboro, NC -- It's still too early to know what impact the new state budget will have on NC universities. Chancellors prepared for cuts up  to 15%, but hoped that wouldn't happen. The Business Journal talked to Charlie Perusse, vice president of finance for UNC-General Administration. "Some campuses might see 10 percent, some might see 15. Thirteen percent is just the aggregate number (included in the final budget)."

Justin Catanoso, The Business Journal

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