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Credit card data shows spending has remained relatively strong, but price sensitivity is rising, especially among lower-income consumers. Travel and experiences continue to see solid demand, but big-ticket home purchases have weakened amid economic uncertainty. Restaurant traffic has struggled as consumers dine out less frequently, citing affordability concerns. Discretionary purchases are under pressure as inflation squeezes budgets and consumers prioritize essentials over items like apparel.
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Brady Shearer
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Happy Invites Video Invitations
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Watch the official trailer for the Netflix animated comedy series Exploding Kittens Season 1, based on the hit card game.<br/><br/>Exploding Kittens Cast:<br/><br/>Tom Ellis, Ally Maki, Mark Proksch and Sasheer Zamata<br/><br/>Stream Exploding Kittens Season 1 July 2024 on Netflix!
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Gabby Angel Graphic Designs
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MrJay Grafix Tutorials
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For decades, it’s been a riddle in banking: how do you build a sustainable and profitable business serving low and middle-income consumers? Sixteen years ago, Chris Britt, then chief product officer at Green Dot, believed he’d discovered the answer—direct deposit of paychecks. <br/><br/>Green Dot was selling prepaid debit cards to cash-strapped Americans without traditional bank accounts, and Britt saw that customers who had their paychecks automatically deposited into their Green Dot accounts used the card to pay virtually all their expenses. With each debit card swipe, Green Dot pocketed part of the interchange fees–the 1% to 2% charge merchants pay to accept debit and credit cards.<br/><br/>“The people on direct deposit were clearly the whales of the business,” says Britt, 51, the cofounder and CEO of Chime, the nation’s largest digital-only bank with $1.5 billion in annualized revenue and seven million customers using its cards for $8 billion a month in transactions.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/jeffkauflin/2024/05/03/exclusive-the-inside-story-of-chime-americas-biggest-digital-bank/?sh=4f40891cfb0d<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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The Consumer Financial Protection Bureau and the Department of Transportation held a joint hearing to discuss whether new regulations are needed for credit card reward programs and airline loyalty programs. Officials argue that for many consumers, the high fees and interest charged on travel rewards credit cards outweigh the value of the rewards and perks earned. Airline-branded credit cards can be much costlier than average cards, with annual fees as high as $650 and interest rates averaging more than 25% compared to no annual fees and about 24% for most cards. Loyalty programs are major revenue generators for airlines, with Delta earning $6.5 billion and Americans expecting 80% of revenue from loyalty members.
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The Consumer Financial Protection Bureau introduced a new rule that would cap credit card late fees at $8, down from the typical $32 currently charged by most banks. This is estimated to save Americans $10 billion annually in late fees. The credit card industry, led by the US Chamber of Commerce, sued the CFPB in federal court to block this new rule from taking effect. A judge in Texas is expected to decide whether to grant an injunction requested by the industry that would freeze the new rule until the legal issues are resolved. Analysts expect the industry lawsuit will likely be successful, as Texas courts are viewed as favorable to corporations.
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Patna Shuklla stars Raveena Tandon as Tanvi Shukla, a Patna-based lawyer who goes from arguing inconsequential cases in a lower court to taking on the entire system in a landmark trial. Tanvi’s life changes when she decides to represent an underprivileged B.Sc. student, Rinki Kumari (Anushka Kaushik), who refuses to believe she’s failed her final-year exams. As Tanvi digs deeper, a wider conspiracy is uncovered – featuring a marksheet scam, the son of a powerful chief minister, unsuspecting victims, and a corrupt university. The case gets media attention; Tanvi and her family are subjected to societal bias, threats and administrative bullying by a government that’s determined to silence her. <br/><br/>The narrative template is fairly derivative. You don’t even have to go too far back. In terms of Tanvi’s underdog journey, Patna Shuklla brings to mind Bhakshak, the recent Netflix movie about a small-time female reporter (Bhumi Pednekar) who exposes a sex trafficking racket in Bihar. Tanvi’s domestic identity is similar: She juggles home-making – cooking, cleaning, fussing after a state-employed husband (Manav Vij) and school-going son – with her day job. Her father (Raju Kher) is wary of her career, her husband downplays it, and her male colleagues don’t take her seriously. Rinki Kumari’s case gives Tanvi purpose and direction; her family learns to respect her a little more through the struggle. The education scam itself has thematic similarities with Farrey (2023), the well-acted social drama co-produced by Salman Khan Films, which aligns with the fact that Patna Shuklla comes from the same family (it’s produced by Arbaaz Khan). The courtroom portions – Tanvi’s opponent is an arrogant lawyer named Neelkanth Mishra (Chandan Roy Sanyal); the veteran judge (the late Satish Kaushik) is a silent ally – unfold like a lesser sibling of Jolly LLB (2013). It’s not supposed to be authentic or even plausible, but there’s a sense of déjà vu about the melodrama, the surprise witnesses, the reasoning and closing monologues.
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Refurbished kitchen opens at Green lane Baptist church.
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President #Putin joined Patriarch Kirill at Christ the Saviour Cathedral for Easter #mass, symbolizing the resurrection of Jesus Christ. On Saturday night #orthodox churches and cathedrals around the world ushered in #Easter. #Moscow #Orthodox
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