Tuesday, November 1, 2011

BOWING TO CONSUMER PRESSURE, BANK OF AMERICA DROPS DEBIT CARD FEES

Bank of America is dropping its plan to charge customers $5 a month for use of debit cards, making a “dramatic retreat” after vocal consumer complaints dissuaded some major rivals from instituting similar fees. “The about-face represents a rare concession to customer sensitivities over fees,” the Wall Street Journal reports. Bank of America has been one of the most prominent targets of the 99 Percenters.

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