Podcast Summary: Apple News Today

Episode: "The swipe-fee settlement that could spell trouble for your rewards card"

Host: Shamita Basu
Date: November 14, 2025

Overview

In this episode, Shamita Basu covers three main stories impacting Americans right now:

• The aftermath of a prolonged federal government shutdown
• A proposed settlement in a major credit card swipe fee lawsuit with big implications for high rewards cards
• A conversation with acclaimed photojournalist Lindsay Addario on documenting conflict and balancing personal life
  Plus, Basu reports on the sudden collapse of the Sonder hotel company and other important news updates.

Key Discussion Points & Insights

1. Federal Government Shutdown Aftermath

Timestamps: 00:05 – 03:38

• The government reopens after 43 days—over a million federal employees were affected.
• Returning to normal will take time:
  • Bureaucratic backlog on services, delayed museums and food stamp payments.
  • Disruptions at airports continue, TSA officers awarded bonuses for working through the shutdown.
• Economic effects:
  • The CBO estimates $11 billion in economic activity permanently lost.
  • Harriet Tory (Wall Street Journal) notes a 1.5 percentage point reduction in GDP growth for Q4.
  • Some spending might be recouped, but not all.
    • Tory [02:28]: “So there is definitely some spending that is lost and is not recouped.”
• Key data blind spots due to the shutdown:
  • Delayed or incomplete jobs reports, impacting economic forecasting and Fed policy decisions.
    • Tory [03:08]: “We probably will get a jobs report talking about payrolls, but it won’t include the unemployment rate, which is totally unprecedented.”

2. Swipe Fee Settlement and High Rewards Credit Cards

Timestamps: 03:39 – 06:37

• A settlement could end a 20-year legal battle between Visa, MasterCard, and merchants over “swipe fees.”
• Josianna Joshua (Bloomberg News) breaks down the situation:
  • Merchants may no longer have to accept all types of Visa/Mastercard (“Honor All Cards” rule).
  • High rewards cards cost merchants more in swipe fees.
    • Joshua [05:31]: “Honoring all of them means that no matter the swipe fee, the merchants have to accept them no matter what.”
• Potential consequences for consumers:
  • Merchants might start refusing certain high-reward cards:
    • Joshua [05:52]: “Any given retailer could just be like, hey, we don’t take that card... Which seems like it would create a bit of friction for consumers.”
  • In the short term, little change is expected since 90% of credit card spending is on rewards cards.
  • Longer term: possible surcharges for using premium rewards cards or selective card acceptance.
• The court approval process is ongoing and changes are months away.

3. Lindsay Addario on Conflict Photojournalism and Family

Timestamps: 06:38 – 09:48

• Renowned photojournalist Lindsay Addario discusses her new National Geographic documentary, “Love and War.”
• Candid look at both her fieldwork and personal life:
  • Addario [07:29]: “In conversation, I try to get the emotion of my subjects, but I also try to empathize and feel what it feels like.”
• Addario recounts a defining moment in Ukraine, 2022—documenting a family killed during an evacuation:
  • Addario [08:02]: “It was very dusty, very chaotic, and I immediately clocked these very small moon boots and it dawned on me that it was a family or there were children... I know that it was an intentional targeting of a civilian evacuation route.”
• Her photo became symbolic, galvanizing global support for Ukraine.
• Documentary also reveals the challenges of balancing dangerous assignments and motherhood:
  • Addario [08:59]: “Parenting is the hardest thing I’ve ever done. I mean, and I’ve covered almost a dozen wars, and definitely parenting is much harder.”
  • Addario [09:30]: “I also made a decision to just be completely transparent and vulnerable and open because I know what I ask of my subjects, and I did not think it would be helpful if I tried to paint a sort of pretty perfect picture because that’s not at all who I am.”

Additional Noteworthy Stories

Sudden Collapse of Sonder Hotel Company

Timestamps: 11:36 – 12:37

• Short-term rental company Sonder declares bankruptcy, abruptly evicting guests and laying off staff without warning.
• Guests describe last-minute emails and confusion.
  • Guest [12:15]: “Imagine my surprise yesterday... I got this random email from Marriott that told us we had to vacate the premises by 9am the next day...”
• Staff were also blindsided, some tasked with eviction duties just before losing their own jobs.

Other Headlines Mentioned

• Chicago daycare worker Diana Santiana Galeano freed after a controversial ICE detention (11:07).
• Operation “Southern Spear” — new U.S. military effort to combat narco-terrorism in the Western Hemisphere (11:44).

Memorable Quotations

• John Fitzpatrick [01:17]: “The main impediment to getting things moving is that you have had people sitting at home because they were legally not allowed to work or people not being paid when they were working, and you get a bit of a morale issue…”
• Harriet Tory [02:28]: “There is definitely some spending that is lost and is not recouped.”
• Josianna Joshua [05:52]: “Any given retailer could just be like, hey, we don’t take that card… Which seems like it would create a bit of friction for consumers.”
• Lindsay Addario [08:59]: “Parenting is the hardest thing I’ve ever done… definitely parenting is much harder [than covering wars].”
• Lindsay Addario [09:30]: “I also made a decision to just be completely transparent and vulnerable and open because I know what I ask of my subjects…”

Important Timestamps

• [00:05] Government shutdown impacts
• [03:39] Credit card swipe fee lawsuit explained
• [06:38] Lindsay Addario on documenting war and motherhood
• [11:07] ICE detainee Diana Santiana Galeano
• [11:44] “Operation Southern Spear” anti-narco effort
• [12:15] Sonder hotel bankruptcy and guest experiences

Tone and Style

Shamita Basu guides the episode with clear, concise reporting, punctuated by expert commentary and personal testimonies. The tone is balanced—informative yet accessible, with space made for emotional resonance during the Addario interview.

For Further Details:
Apple News directs listeners to the podcast app and Show Notes to see Addario’s photographs and find additional coverage on these stories.