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FOREIGN TRANSACTION FEE

Just before the latest credit card bill was signed into law a few months ago, I predicted banks would start charging transaction fees for purchases made through an international company. I hate it when I’m right.

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I hate it when I’m right about something like this. A few days ago, I warned that the Credit Card Accountability Responsibility and Disclosure Act of 2009 had a gaping loophole that could force us to pay a foreign transaction fee whenever we crossed a border.

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