Accountability, Responsibility and Disclosure Act, or CARD Act, which requires that credit card penalty fees be kept at “reasonable and proportional” levels, the Final Rule adopts a late fee safe harbor threshold of $8 for those issuers and provides that the annual adjustments to reflect changes...
IBM typically increases annual fees by approximately 10%. In the past, staff has renewed S&S annually and has been able to negotiate reduced fee increases of 7%, however, it isn't guaranteed that IBM would agree to future reductions in its annual fee. This year staff is recommending a 5-...