DOJ is really going at it lately.
I can't wait to hear about the outcome of this litigation in 20-25 years.
this post was submitted on 24 Sep 2024
784 points (99.6% liked)
News
23361 readers
3289 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
Right?
Going after Google AND Visa?!
Even if it's all theatrics, the Justice department hasn't really showed up to work in recent memory and this is a refreshing change from the void abyss DOJ usually haunts
The Bush jr administration illegally made political hiring and firing decisions for DOJ positions. We are just now getting far enough away from that to have the DOJ right itself.
load more comments
(4 replies)
load more comments
(4 replies)
Visa should be nationalized. Let the government run the payment processing if we are only going to have only one.
Check out FedNow. Basically a domestic government run payment system. Still pretty new and growing.
Christ...this needed to be major news a year ago. We really need to get banks out of the payment business but fear that they are pulling an Intuit and will make the FedNow system more challenging to use down the road.
load more comments
(10 replies)
By which nation? It operates pretty much everywhere.
Obviously my nation! Lol. That's a good point they would have to break it off and ban the other arms from coming back to the US and using the same name I guess.
load more comments
(1 replies)
I'm
Ah fuck! Did VISA get you?
load more comments
(29 replies)
The DOJ isn't going after this, but VISA is also the source of all these fucking porn bans on like Tumblr and shit because if you want to be able to use their payment processing, you also have to follow their fucking puritan ass values.
Honestly, if this kicks that secondary issue in its ass, that's amazing.
I don't think it will help with that, the war on pornography is only going to get worse.
load more comments
(5 replies)
These network transactions cost between 2 to 4 % for merchants, which is a cost passed to consumers by businesses raising prices. That's a fairly large "inflation", and certainly it seems out of line with the effort they out into it. It's anticompetitive practices that keep it in place.
Fwiw debit card transaction are capped around 21 cents per transaction depending on the size of the bank holding the account. You’re right for credit cards though. Also, imho, I’ve never seen merchants pass along these debit card savings to the consumer. With they would though.
I've never heard of that cap! Any references.
Also, imho, I’ve never seen merchants pass along these debit card savings to the consumer. With they would though.
Gas stations do! But not really passing the savings, just flipping it by penalizing credit cards.
They can easily say, "Actually it's 0.10 off by using a debit" as opposed to "it's 0.10 more for using credit".
From the federal reserve directly : https://www.federalreserve.gov/aboutthefed/boardmeetings/frn-reg-ii-20231025.pdf Also, I guess what I meant is, the cap used to be 45 cents, and when it was reduced to 21 cents, there wasn’t some massive reduction in prices of products for consumers. Merchants just pocket that difference.
load more comments
(1 replies)
load more comments
(5 replies)
And the merchant terms are getting worse and more arbitrary.
I wonder what the world would be like if that IBM source code which is the backbone for all financial transactions and payment gateways weren't tightly controlled proprietary tech.
More fraud maybe, but less nickel and dime trickle upwards.
Obligatory fuck IBM they are largely patent trolls at this point adding zero value to anything.
Let's not be too hard on them. They have a rich history of working all over the world in a variety of roles.
After all, what other company can you name that helped operate Japanese internment camps in America and Nazi Concentration camps at the same time?
Fucking wüff, what a resume
The only thing of value at IBM now is Redhat. And there are a lot of people who aren't happy with some of the decisions they made with Redhat.
load more comments
(1 replies)
What are you referencing specifically? I work in payments and I've never heard of this IBM code. The card networks just use an ISO format and every front end is different (the two we have are completely different in very fundamental ways though they are definitely both old as fuck).
load more comments
(6 replies)
About time.
For reference, visa charges about 1.5%-3.5% on everything.
Oh, plus ten cents for every transaction, because fuck you, that's why.
load more comments
(1 replies)
What isn't a monopoly anymore? Which doesn't make their ultimate goal is to fuck people to make a profit. Latest one that hit me hard is ~~cat~~ car manufacturers selling people's data to the insurance companies and people are getting insurance price ~~bike~~ hike(fuck you, Google and fuck your fucking keyboard) for no reason.
cat manufacturers
insurance price bike
I know exactly what you meant but these typos are strangely hilarious. Cheers, we all make silly typos sometimes. Me especially when I'm typing on a phone because I hate using autocorrect.
For anyone confused: car manufacturers / price hike
This is 100% Gboard autocorrecting words that are already correct. It feels the need to speak for me. I'm so fucking sick of it changing already correct words to what it thinks I need to type. I've even fucking emailed Google about it. They think they're helping us type better and faster, but they're actually making us type slower, as we have to fucking double check everything we type.
If I were a conspiracy theorist I'd say they're deliberately making it shittier to push voice-to-text for that sweet, sweet AI training data.
But I think it's probably just incompetence. Keyboards from a decade ago were a lot better at learning your typing/swiping patterns, I feel.
load more comments
(2 replies)
load more comments
(6 replies)
load more comments
(1 replies)
Well after living through 2008, I am convinced the DoJ will magically forget about thise whole thing in a few years lol.
view more: next ›