Bank fees, Herman Cain and hearing for the first time
New federal debit card rules begin tomorrow, and Bank of America wasted no time in announcing a $5 monthly fee for debit card purchases to make up for the expected drop in revenue. What's changing is the fee that banks charge to merchants -- now an average of 44 cents. Tomorrow, banks can't charge more than 21 cents.
But, here's the rub - Bank of America is not going to LOSE money by charging this amount, but it's going to make LESS money. Lower revenues means unhappy shareholders. Enter the customer fee of $5 a month. BoA has 57 million consumer and small business customers. If a majority use their debit cards to make purchases, BoA stands to make about $3 billion a year. That's a $1 billion more than the bank makes from the transaction fees. Guess who has the last laugh? The decision has sparked a flurry of outrage on our Facebook page and on Twitter.
Chris Christie may be getting all the hype, but it's Herman Cain who is quietly rising in the polls in the Republican presidential campaign.
After a series of impressive debate performances and a win in the Florida straw poll, Cain has jumped to 17 percent in the most recent poll, statistically tied with Rick Perry and a stone's throw away from Mitt Romney. Most pundits don't take him as a serious candidate, but it's hard to ignore a candidate who is rising from the ground up. By the way, Cainn appears on This Week with Christiane Amanpour on Sunday morning and his memoir, “This Is Herman Cain! My Journey to the White House,” is due out next week.
Think the NBA lockout is not having an impact on the players? Kobe Bryant may be able to get by, but a lot of players need a job to pay the bills. Delonte West, the former Boston Celtics guard, tweeted that after weeks of searching, he does finally have a job. Regency Furniture Showrooms, a furniture chain in Maryland, Virginia and Washington, D.C., hired him. West also posted a series of pictures on his Twitter account of his first day at Regency. West also applied for gigs at Home Depot and Sam's Club before landing employment at Regency.
Holly Madison is probably the last person who you would think would be leading searches on Google, but because she apparently insured her breasts for $1 million, she's the search leader.
According to various reports, the model, showgirl, TV personality and a girlfriend of Hef took out the million dollar policy with the Lloyd’s of London, which insures all sorts of body parts of famous people. Here's the thing: the breasts are not even real. Madison had plastic surgery in 2001, changing her size from an A-cup to a D-cup. Well, I guess there are more unusual things. David Lee Roth once took out a $1 million insurance policy on his sperm.
Ashton Kutcher responded to rumors of a split with wife Demi Moore by tweeting a link to the song, "Don't Believe The Hype."
NPR has put the spotlight on the pawpaw. My immediate reaction might be like yours - what the heck is a pawpaw? It's a fruit native to Kentucky and Indiana, among other Midwest and Southern states. A pawpaw is a mango-like fruit that, according to Allison Aubrey, also "grows along the banks of the Potomac - a speckled and homely skin that hides a tasty treat." The pawpaw actually has actually been around a long time. Thomas Jefferson apparently had them on his farm in Monticello, but they've never gained wide commercial acceptance. There are just a few orchards selling to farmers markets, but scientists are looking at the health value of the fruit. That could mean a boost to its appeal.
The most popular video in New York City this morning is haunting Red Sox fans. Don't watch if you're a fan. It will be painful.
The military guy who called dad to say he was gay is back with another trending video. This time he's calling mom.
An English Mastiff named Tank apparently thought he could help out around the house while his owner was away. The result… well, a viral video…
And finally, a 29-year-old woman born deaf has received a hearing implant. Cameras were rolling when they turned on the device.
That's the trend!
Have a great weekend,