http://workshop.search-autoparts.com/service/displayKickPlace.kickAction?u=31385451&as=31710 Most Recent Submissions from sbarlas on AutoPro Workshop Thu, 09 Jun 2011 17:56:17 GMT Thu, 09 Jun 2011 17:56:17 GMT mwillins@advanstar.com (AutoBizGuru) mwillins@advanstar.com (AutoBizGuru) KickApps Feed Builder 2011-06-09T17:56:17Z 3 http://workshop.search-autoparts.com/service/searchEverything.kickAction?as=31710&includeVideo=on&includeAudio=on&includePhoto=on&includeBlog=on&sortType=recent 0 http://workshop.search-autoparts.com/_Retailers-Beat-Banks-in-Senate-Vote/blog/3975170/31710.html      The Senate voted down yesterday a bill which would have given the banking industry more time to lobby for higher swipe fees which retailers pay to credit card companies. The Federal Reserve Board is expected to issue a final rule by July 21 cutting swipe fees for debit cards from an average of 44 cents charged by big banks down to 12 cents. The Dodd-Frank financial reform bill mandated a reduction in the swipe fees that aftermarket retailers and others pay to MasterCard, Visa and others. Those fees eventually find their way to banks. Sen. John Tester (D-Mont.) brought an amendment to the Senate floor on June 8 which would have extended the July 21 deadline for six months. That would have given the banking industry more time to either pressure the Fed to bump up the max swipe fee from 12 cents/transaction or marshall another legislative effort in the Senate. But Tester's amendment received 54 votes, six short of what he needed to cut off a filibuster, which is a parliamentary tactic used by opponents to prevent a vote on a piece of legislation. Matthew Shay, President and CEO of the National Retail Federation, called the defeat of the Tester amendment a "landmark victory" which would allow retailers to hold down prices for consumers. But the Fed still must issue a final rule, and it is unknown whether the swipe fee formula will be more generous than the one it suggested in its proposed rule, which riled the banks.          The Senate voted down yesterday a bill which would have given the banking industry more time to lobby for higher swipe fees which retailers pay to credit card companies. The Federal Reserve Board is expected to issue a final rule by July 21 cutting swipe fees for debit cards from an average of 44 cents charged by big banks down to 12 cents. The Dodd-Frank financial reform bill mandated a reduction in the swipe fees that aftermarket retailers and others pay to MasterCard, Visa and others. Those fees eventually find their way to banks. Sen. John Tester (D-Mont.) brought an amendment to the Senate floor on June 8 which would have extended the July 21 deadline for six months. That would have given the banking industry more time to either pressure the Fed to bump up the max swipe fee from 12 cents/transaction or marshall another legislative effort in the Senate. But Tester's amendment received 54 votes, six short of what he needed to cut off a filibuster, which is a parliamentary tactic used by opponents to prevent a vote on a piece of legislation. Matthew Shay, President and CEO of the National Retail Federation, called the defeat of the Tester amendment a "landmark victory" which would allow retailers to hold down prices for consumers. But the Fed still must issue a final rule, and it is unknown whether the swipe fee formula will be more generous than the one it suggested in its proposed rule, which riled the banks.     Tue, 28 Jun 2011 18:29:40 GMT http://workshop.search-autoparts.com/_Retailers-Beat-Banks-in-Senate-Vote/blog/3975170/31710.html sbarlas 2011-06-09T17:56:17Z AMBW AutoPro Workshop      The Senate voted down yesterday a bill which would have given the banking industry more time to lobby for higher swipe fees which retailers pay to credit card companies. The Federal Reserve Board is expected to issue a final rule by July 21 cutting swipe fees for debit cards from an average of 44 cents charged by big banks down to 12 cents. The Dodd-Frank financial reform bill mandated a reduction in the swipe fees that aftermarket retailers and others pay to MasterCard, Visa and others. Those fees eventually find their way to banks. Sen. John Tester (D-Mont.) brought an amendment to the Senate floor on June 8 which would have extended the July 21 deadline for six months. That would have given the banking industry more time to either pressure the Fed to bump up the max swipe fee from 12 cents/transaction or marshall another legislative effort in the Senate. But Tester's amendment received 54 votes, six short of what he needed to cut off a filibuster, which is a parliamentary tactic used by opponents to prevent a vote on a piece of legislation. Matthew Shay, President and CEO of the National Retail Federation, called the defeat of the Tester amendment a "landmark victory" which would allow retailers to hold down prices for consumers. But the Fed still must issue a final rule, and it is unknown whether the swipe fee formula will be more generous than the one it suggested in its proposed rule, which riled the banks.     ambw nonadult false Retailers Beat Banks in Senate Vote text blog ambw 389 0 0.0 http://workshop.search-autoparts.com/service/displayKickPlace.kickAction?u=31385451&as=31710 http://media.kickstatic.com/kickapps/images/31710/photos/PHOTO_13398241_31710_31385451_ap_160X120.jpg false 0 AMBW 0 3975170 31385451 Member 250 http://workshop.search-autoparts.com/_Debit-card-debacle/blog/3640697/31710.html   The clock is ticking down and political pressure rising as the July 21 deadline nears for banks to reduce debit card swipe fees charged to retailers. A law Congress passed last year will force banks to reduce fees to an average of five to seven cents per transaction from the current level, which is about one percent of purchase price. The banks, who in turn pay those swipe fees to Visa and MasterCard, have run a massive lobbying campaign to convince Congress to delay the July 31 deadline. They argue that smaller swipe fees will force them to charge more for other bank services, like use of ATMs, to make up for that lost revenue. Sen. John Tester (D-Montana) introduced a bill in March which would require the Federal Reserve, which Congress gave swipe fee regulation authority to, to delay a final rule on lower swipe fees for two years. This week, Tester, in an effort to win over additional Senate converts, agreed to cut the delay to 15 months. Here’s how the 15 months will be used: 15 months will provide the agencies with six-months for a study.  It will provide the Federal Reserve six months to re-write the rules using that study.  And it will allow three months to implement the final rules. Retail groups say that any delay would sound the death knell for reduced swipe fees. As kind of an unofficial answer to Tester's offer, the National Retail Federation also this week unveiled a new media campaign aimed at thwarting the Montana Democrat, who has been joined by Rep. Shelley More Capito (R-W. Va.). Her bill would delay lower swipe fees for one year.   The clock is ticking down and political pressure rising as the July 21 deadline nears for banks to reduce debit card swipe fees charged to retailers. A law Congress passed last year will force banks to reduce fees to an average of five to seven cents per transaction from the current level, which is about one percent of purchase price. The banks, who in turn pay those swipe fees to Visa and MasterCard, have run a massive lobbying campaign to convince Congress to delay the July 31 deadline. They argue that smaller swipe fees will force them to charge more for other bank services, like use of ATMs, to make up for that lost revenue. Sen. John Tester (D-Montana) introduced a bill in March which would require the Federal Reserve, which Congress gave swipe fee regulation authority to, to delay a final rule on lower swipe fees for two years. This week, Tester, in an effort to win over additional Senate converts, agreed to cut the delay to 15 months. Here’s how the 15 months will be used: 15 months will provide the agencies with six-months for a study.  It will provide the Federal Reserve six months to re-write the rules using that study.  And it will allow three months to implement the final rules. Retail groups say that any delay would sound the death knell for reduced swipe fees. As kind of an unofficial answer to Tester's offer, the National Retail Federation also this week unveiled a new media campaign aimed at thwarting the Montana Democrat, who has been joined by Rep. Shelley More Capito (R-W. Va.). Her bill would delay lower swipe fees for one year. Tue, 28 Jun 2011 22:29:52 GMT http://workshop.search-autoparts.com/_Debit-card-debacle/blog/3640697/31710.html sbarlas 2011-05-19T20:15:34Z AMBW AutoPro Workshop   The clock is ticking down and political pressure rising as the July 21 deadline nears for banks to reduce debit card swipe fees charged to retailers. A law Congress passed last year will force banks to reduce fees to an average of five to seven cents per transaction from the current level, which is about one percent of purchase price. The banks, who in turn pay those swipe fees to Visa and MasterCard, have run a massive lobbying campaign to convince Congress to delay the July 31 deadline. They argue that smaller swipe fees will force them to charge more for other bank services, like use of ATMs, to make up for that lost revenue. Sen. John Tester (D-Montana) introduced a bill in March which would require the Federal Reserve, which Congress gave swipe fee regulation authority to, to delay a final rule on lower swipe fees for two years. This week, Tester, in an effort to win over additional Senate converts, agreed to cut the delay to 15 months. Here’s how the 15 months will be used: 15 months will provide the agencies with six-months for a study.  It will provide the Federal Reserve six months to re-write the rules using that study.  And it will allow three months to implement the final rules. Retail groups say that any delay would sound the death knell for reduced swipe fees. As kind of an unofficial answer to Tester's offer, the National Retail Federation also this week unveiled a new media campaign aimed at thwarting the Montana Democrat, who has been joined by Rep. Shelley More Capito (R-W. Va.). Her bill would delay lower swipe fees for one year. ambw nonadult false Debit card debacle? text blog ambw 526 0 0.0 http://workshop.search-autoparts.com/service/displayKickPlace.kickAction?u=31385451&as=31710 http://media.kickstatic.com/kickapps/images/31710/photos/PHOTO_13398241_31710_31385451_ap_160X120.jpg false 0 AMBW 0 3640697 31385451 Member 250 http://workshop.search-autoparts.com/_Vehicle-Tech-Funding-May-Stall/blog/3459136/31710.html        President Obama reiterated his support for the development of electric vehicles in his energy policy statement at the end of March. But the budget deal Republicans and Democrats agreed to at the White House on April 8 takes what is likely to be a big bite out of federal assistance for electric car development. The final budget for fiscal 2011, which Congress is voting on this week, cuts the Department's energy efficiency and renewable energy program by a whopping $438 million below the 2010 level of $2.2 billion. That $2.2 billion is spread over a number of vehicle and non-vehicle programs, the latter in the area of buildings, homes, etc. But a big chunk of that $2.2 billion goes vehicle technologies development.      Fiscal 2011 actually started last October 1. But the last Congress did not pass a 2011 budget. Through the first half of calendar 2011 this new Congress has approved a series of temporary budgets, called continuing resolutions, which fund federal programs at fiscal 2010 levels. To get to a final 2011 budget, Republicans and Democrats brought out a sharp knife and reduced final 2011 spending nearly $40 billion below 2010 levels.      In dictating "macro" cuts for federal offices, Congress did not specify down to the finite level which exact programs would be cut how much. The vehicles tech program at the DOE (formerly called FreedomCar) was funded at a nudge over $300 million in 2010. It won't be clear for a few months, probably, how far below $300 million the vehicle tech program will sink, and which of its particular programs will be hurt the worst. The vehicles program funds, through grants and loans, research on hybrid systems, lubricants, fuels and a lot of other things.        President Obama reiterated his support for the development of electric vehicles in his energy policy statement at the end of March. But the budget deal Republicans and Democrats agreed to at the White House on April 8 takes what is likely to be a big bite out of federal assistance for electric car development. The final budget for fiscal 2011, which Congress is voting on this week, cuts the Department's energy efficiency and renewable energy program by a whopping $438 million below the 2010 level of $2.2 billion. That $2.2 billion is spread over a number of vehicle and non-vehicle programs, the latter in the area of buildings, homes, etc. But a big chunk of that $2.2 billion goes vehicle technologies development.      Fiscal 2011 actually started last October 1. But the last Congress did not pass a 2011 budget. Through the first half of calendar 2011 this new Congress has approved a series of temporary budgets, called continuing resolutions, which fund federal programs at fiscal 2010 levels. To get to a final 2011 budget, Republicans and Democrats brought out a sharp knife and reduced final 2011 spending nearly $40 billion below 2010 levels.      In dictating "macro" cuts for federal offices, Congress did not specify down to the finite level which exact programs would be cut how much. The vehicles tech program at the DOE (formerly called FreedomCar) was funded at a nudge over $300 million in 2010. It won't be clear for a few months, probably, how far below $300 million the vehicle tech program will sink, and which of its particular programs will be hurt the worst. The vehicles program funds, through grants and loans, research on hybrid systems, lubricants, fuels and a lot of other things. Tue, 28 Jun 2011 18:30:06 GMT http://workshop.search-autoparts.com/_Vehicle-Tech-Funding-May-Stall/blog/3459136/31710.html sbarlas 2011-04-13T19:01:01Z AMBW AutoPro Workshop        President Obama reiterated his support for the development of electric vehicles in his energy policy statement at the end of March. But the budget deal Republicans and Democrats agreed to at the White House on April 8 takes what is likely to be a big bite out of federal assistance for electric car development. The final budget for fiscal 2011, which Congress is voting on this week, cuts the Department's energy efficiency and renewable energy program by a whopping $438 million below the 2010 level of $2.2 billion. That $2.2 billion is spread over a number of vehicle and non-vehicle programs, the latter in the area of buildings, homes, etc. But a big chunk of that $2.2 billion goes vehicle technologies development.      Fiscal 2011 actually started last October 1. But the last Congress did not pass a 2011 budget. Through the first half of calendar 2011 this new Congress has approved a series of temporary budgets, called continuing resolutions, which fund federal programs at fiscal 2010 levels. To get to a final 2011 budget, Republicans and Democrats brought out a sharp knife and reduced final 2011 spending nearly $40 billion below 2010 levels.      In dictating "macro" cuts for federal offices, Congress did not specify down to the finite level which exact programs would be cut how much. The vehicles tech program at the DOE (formerly called FreedomCar) was funded at a nudge over $300 million in 2010. It won't be clear for a few months, probably, how far below $300 million the vehicle tech program will sink, and which of its particular programs will be hurt the worst. The vehicles program funds, through grants and loans, research on hybrid systems, lubricants, fuels and a lot of other things. ambw nonadult false Vehicle Tech Funding May Stall text blog ambw 374 0 0.0 http://workshop.search-autoparts.com/service/displayKickPlace.kickAction?u=31385451&as=31710 http://media.kickstatic.com/kickapps/images/31710/photos/PHOTO_13398241_31710_31385451_ap_160X120.jpg false 0 AMBW 0 3459136 31385451 Member 250