An anonymous reader quotes a report from The Guardian: The [San Francisco international airport] is hoping to build a brand-new terminal exclusively for passengers who pay a premium, gaining access to a luxurious airport experience complete with private security lines and valet service from terminal to tarmac. It will service commercial flights, not business or corporate jets, and the terminal will have its own Transportation Security Administration (TSA) lines as well as Customs and Border Protection (CBP) lines for international travel. SFO is seeking bidders to take on the development, construction and operation of the private terminal, which is planned for a 75,000-sq-ft site located across the runway from all current public terminals. The airport will accept proposals between late September and early October, and is looking to award a contract by early December with hopes of opening the terminal in late 2028. [...] If SFO is successful, it would become the next major American airport to open a luxury terminal. Los Angeles, Dallas Fort Worth, Miami and Hartsfield-Jackson Atlanta international airports all offer a private terminal through PS (formerly known as the Private Suite), a company owned by security firm Gavin de Becker and Associates. Multiple representatives from PS and Gavin de Becker and Associates attended a June conference hosted by SFO about the private terminal, and PS has said it hopes to open a private terminal at every major US airport by 2030. The report notes that access to existing PS private terminals "can cost passengers $1,295 for a one-time experience, or up to $4,850 for a yearly membership."

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JPMorgan, Bank of America, Wells Fargo, PNC, and other major banks have reportedly explored acquiring Fiserv's debit-card networks, STAR and Accel, in a move that could help them bypass federal caps on debit-card transaction fees. A law limits the fees big banks can charge merchants, but only if the transactions are routed through an outside network. There are no caps on these interchange fees over a bank-owned network, however. The Wall Street Journal reports: When Capital One Financial bought Discover Financial in a $50.6 billion deal, it got a network that cut out the need for a middleman in card transactions and allowed it to deal more directly with merchants. Now, big banks are looking on with envy because owning a network can mean exemption from a federal law that caps debit-card fees. Those fees collectively amount to billions of dollars each year across the industry, but banks have long complained the government-defined cap limits their ability to offer customers debit-card rewards and other services. Some have been exploring a small deal that could upend the rules, though they are worried about political backlash if they try. Big banks including JPMorgan Chase, Bank of America, Wells Fargo and PNC Financial Services Group have in recent months held preliminary and tentative discussions about a deal to acquire a network owned by the financial-technology company Fiserv, according to people familiar with the matter. There is no certainty a deal will happen. Several of the banks that looked at the Fiserv network have already decided it would be unlikely for them to move forward, some of the people said. Some have privately expressed concern that such a deal could prompt backlash from lawmakers, regulators and merchants, the people added.

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