Debit-Card Swipe Fees Costing You?

We could end up paying higher bank fees without seeing a reduction in retail store prices.

Not long ago, I received a press release from the National Foundation for Credit Counseling lamenting the lack of response to its toll-free number (800-388-2227) that directs consumers to local nonprofit credit counseling agencies. The Credit Card Accountability, Responsibility and Disclosure Act requires that such a number be displayed on credit card bills, and the NFCC estimates that its hot line has been listed on 500 million statements since February 2010. Nonetheless, only 150,000 people have responded, a rate the group finds “confusing.”

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Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.