Christopher Peterson of the University of Florida - Levin College of Law has written a paper titled "Usury Law, Payday Loans, and Statutory Slight of Hand: An Empirical Analysis of American Credit Pricing Limits" (PDF).

Visa International's Latin American and Caribbean Region has announced that POS volume increased 26 percent to US$116.3 billion during the four quarters ending on March 31, 2007.

A recent survey commissioned by Cardways.com revealed that "81 percent of men and women prefer to receive gift cards for their birthday. Electronics ranked second followed by clothes and tickets to a show or sporting event."

Parago, a provider of rebate, incentive and promotion solutions, has announced "FSV Payment Systems has been selected as a strategic partner for prepaid services. In the newly formed partnership, FSV Payment Systems will manage prepaid card processing while their partner, Meta Payment Systems will provide issuing bank services."

JetBlue has announced "a partnership with Bill Me Later, a non-credit card form of payment for customers purchasing JetBlue travel. The payment method allows customers to safely and conveniently make JetBlue travel reservations at http://www.jetblue.com using the innovative payment system of I4 Commerce."

First Data Corp. has announced that "its shareholders approved the merger agreement with an affiliate of Kohlberg Kravis Roberts & Co. (KKR). Of the shares that were voted, over 98% were cast in favor of the merger. Upon the closing of the merger, the Company's shareholders will be entitled to receive $34.00 in cash, without interest, for each share of First Data common stock held.

"I am very pleased to receive such broad support for this transaction from our shareholders," said Chairman and CEO, Ric Duques. "With most of the necessary conditions now having been met, we are well on our way to closing this transaction, as expected, in the third quarter."

The New York Times this morning published an editorial criticizing regulatory oversight of the credit card industry - saying that the "federal agencies that are supposed to regulate the banking and credit card industries have failed utterly to keep pace with deceptive and unfair practices that have become shamefully standard in the business."

TSYS Europe and Lloyds TSB have announced the launch of the Lloyds TSB money transfer card in the UK. "The new Silver account from Lloyds TSB includes an innovative money transfer prepaid product, aimed particularly at the growing number of newly arrived migrants living and working in the U.K."

comScore has "released a report on U.S. e-commerce spending for the second quarter of 2007, which showed that non-travel (retail) e-commerce grew 23 percent versus year ago to $27.2 billion, while online travel spending increased 14 percent to $20.3 billion. Total U.S. e-commerce spending climbed 19 percent to $47.5 billion during the period."

In an article titled 'Credit card industry resists change as fees shock many", Christine Dugas writes for USA Today about the Federal Reserve's proposals to require clearer disclosures by card issuers. She writes that the credit card industry "welcomes better disclosure but opposes curbs on its ability to raise fees or rates or change policies. Consumers have yet to see any significant easing of fees and rates that have sparked outrage."

Separately, John Poirier reports for Reuters that Rep. Carolyn Mahoney "plans to offer legislation to address some of the problems plaguing credit card customers who have been blindsided with interest rate changes and various fees."

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