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by mritchie712
513 days ago
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why is this surprising? If they didn't pass the cost of fraud along, they'd all go out of business. The interchange rate on credit cards is high, but "diabolical" is a stretch. Also, fraud is a very small line item in a credit card P&L. Generally 25bps to 50bps vs credit charge offs which are closer to 3% to 6%. Source: Ran risk for Bank of America and a credit card fintech. |
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