 Mexico City is joining major cities across the globe by taking its first step toward cashless public transportation. Or at least Mastercard hopes so.
This November, the card company will introduce a contactless, transit-enabled debit card for Mexico City’s Metro, the Sistema de Transporte Colectivo, allowing riders tap-and-go payment tied to their bank accounts. It’s an effort by Mastercard to capture millions of daily cash transactions while helping the government promote broader participation in the financial system.
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Wells Fargo has already admitted to charging people for overdrawing bank accounts that they didn't have and for car insurance that they didn't need. Now, it's being accused of ripping off vulnerable mom-and-pop businesses. For several years, Wells Fargo's merchant services division overcharged small businesses for processing credit card transactions, a lawsuit alleges. Business owners who tried to leave Wells Fargo were charged "massive early termination fees," according to the lawsuit filed in US District Court.  |
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