Visa and Mastercard’s proposed $38 billion settlement over swipe fees is stirring up a lot of controversy, and for good reason. It’s easy to see how this deal, while potentially lowering some costs, might actually end up hurting consumers and small businesses. It feels like a complex dance where the big players – the banks and payment networks – are trying to protect their own interests, leaving merchants and regular folks to pick up the slack.
A key issue highlighted is the tiered system of credit cards. Most credit cards issued these days are premium cards – think Visa Signature or World Elite Mastercard.… Continue reading
China Wants Foreign Scientists. The Public Says No, Thanks.
The Chinese government’s recent initiative to lure young science and technology graduates with a new visa has met with an unexpected and rather emphatic response: a significant backlash from within China itself. Instead of the warm welcome Beijing anticipated, the announcement ignited a firestorm of criticism online, forcing the government to acknowledge and, to some extent, respond to the public’s disapproval. This reaction highlights a complex interplay of factors, including anxieties about job security, lingering xenophobia, and the powerful influence of nationalistic sentiment.
The core of the issue seems to be a deep-seated fear among some Chinese citizens that the new visa program will lead to foreigners taking jobs away from qualified Chinese individuals, especially in a job market already challenging for young graduates.… Continue reading
The National Payment Card System (NSPK) is recommending that Russian banks remove all remaining Visa and Mastercard cards from circulation. This is due to the expiration of security certificates embedded in the cards’ chips on January 1, 2025, rendering them unusable. The NSPK, established by the Central Bank, will work with credit institutions to determine a timeline for this withdrawal following Visa and Mastercard’s exit from Russia in 2022. This decision aligns with the Central Bank’s plans to restrict the validity of expired cards to combat fraud, a measure that was first announced in July 2025.
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The recent ICE raid on over 300 South Korean workers in Georgia is creating a diplomatic challenge, as South Korea’s president expressed concerns that the situation could negatively impact future South Korean investment in the US. The South Korean government is urging the US to normalize visa processes, potentially through new visa categories. The detained workers, some of whom may have entered the US illegally or overstayed visas, are preparing to return home. The incident, which included the shackling of workers, has caused shock and outrage in South Korea, with officials and business leaders fearing lasting consequences.
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Internal government documents reveal that at least one Korean worker arrested during a recent ICE raid on a Hyundai factory in Georgia was legally residing and working in the U.S. under a valid visa. Despite this, immigration officials mandated the worker’s “voluntary departure” from the country, contradicting the worker’s legal status. This raises serious legal questions, with some immigration attorneys arguing that the government’s actions constitute unlawful imprisonment. The situation has sparked outrage and prompted questions about the legitimacy of the mass arrests and the pressure being placed on detainees to leave the country.
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Jon Luke Evans, a reserve police officer in Old Orchard Beach, Maine, arrested by ICE, has agreed to voluntary departure from the U.S. The arrest sparked a dispute, as the town and police department had been previously informed by federal officials that Evans was legally authorized to work. Evans’s voluntary departure avoids deportation, a decision made after ICE officials stated he overstayed his visa and unlawfully attempted to purchase a firearm. While held in ICE facilities, there were discrepancies in his location, and it remained unclear if he had legal representation.
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In 2024, Canada significantly tightened its immigration policies, leading to a dramatic increase in visa application rejections. Study permit applications faced a 52% denial rate, while work permit denials reached 22%, a marginal improvement from the previous year. This stricter approach effectively closed Canada’s doors to a substantial number of foreign workers, students, and tourists. The resulting impact on Canada’s economy and social fabric remains to be seen.
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Matt Underwood 
John Q. Hosedrinker