Two Canadian law firms have proposed a class action suit which accuses Visa, MasterCard and the major banks of fixing charges on credit cards. News release here. The specifics of the filing mirror closely the complaints of merchants and their associations, such as the Canadian Federation of Independent Business. The principal accusation is that the parties require merchants as an absolute condition to accept all levels of cards, including so-called premium cards with high fees. And, that the card companies forbid merchants from charging a higher price for goods sold on premium cards as a way of recovering the additional fee expense. The news releaase linked above also solicits those who might wish to be part of the class action.
Month: March 2011
Porsche rims stolen on Blythdale
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•From the TPS crime reports: A resident of Blythdale Road reports that between 2100 hours, March 13, 2011 and 0700 hours, March 14, 2011 unknown suspect(s) entered the premises by unknown means. Removed was four Porsche rims.
Williamson replaces Baxendale at CIBC
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Nice weather, warmer week ahead
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•The general forecast looks like we’ll be returning to some more seasonal weather this week. It will be only minus 1 today but temperatures will move up rapidly during the rest of the week under mostly sunny skies
BMO launches coin exchange program
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•Bank of Montreal has said that it will build coin repatriation machine4s into its new and refurbished branches over a period of time. It will be costly but the strategy is to win loyalty and pry depositors away from other banks. The story is in the Globe and Mail this morning. Interestingly, the machines don’t charge fees or take a percentage of the haul the way most generic coin counters in supermarkets and malls do. However, users must take their receipt to the teller in order to get paid. At that point, BMO has the chance to pitch them on opening an account, if they aren’t already a customer.
Denied parking on Petman Ave
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E-reader sales reach 14 million in 2010
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Millions observe Earth Hour around world
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•Millions around the world observed Earth Hour by turning off their lights between 8.30 and 9.30 pm local time tonight. It has become an annual event which was originated in Australia only four years ago. Here on South Bayview, members met to observe the hour at St. Cuthert’s Anglican Church. The above video shows the great metropolis of Hong Kong going dark for the occasion.
Walk and text chic on South Bayview
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Pussy willows signal Spring
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Foundation in at 18 Lumley Avenue
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Tea Emporium birthday party
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•The Tea Emporium will celebrate ten years on South Bayview on Saturday, April 2, 2011 with an open house. There will be balloons for the kids and iced tea for everyone.