Poll: Bank of America Backs Down; Do Consumers Win?
Bank of America announced Tuesday it is dropping its controversial plan to enact a $5 monthly debit card fee.
When Bank of America announced last month it would start charging customers a $5 monthly fee for use of a debit card, many consumers feared it was the beginning of a new trend in bank fees. They expected other banks would follow suit, and American consumers would see more money moving from their wallets to big businesses. It never happened. In a surprise move, Bank of America announced it is dropping the controversial plan, according to The Washington Post. The Post wrote: "the debit charge drew a torrent of fury from customers, lawmakers and even President Obama. Faced with consumer backlash, Wells Fargo recently abandoned its own testing of a fee. Regions Bank and SunTrust have also dropped their charges." Is this a victory for the …
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David Bouchard
9:54 pm on Friday, November 4, 2011
Folks, I think you should ignore Mr MH, he's just messing with you. You are arguing with a parody. The more insensed you become the funnier he finds it; he's probably giggling to the point that he's wetting himself. more ›