Bank of America not charging debit fee

Bank of America not charging debit fee

Bank of America has abandoned plans to begin charging debit card holders five dollars a month to use their cards, a proposal which drew intense consumer and political backlash since announced in late September.

" Bank of America's CEO David Darnell said in a written statement. that they have listened to consumers and will not be charging the fee and will not be moving forward with any additional plans to do so. Occupy Wall Street protestors have increased awareness of these practices at several banks.

Retreating from the fee will likely help the bank keep customers. One-third of consumers said they would leave their bank if it started charging a debit card fee.

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Phone: 704-957-0323
Dated: November 1st 2011
Views: 2,183
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