Wednesday, November 2, 2011

Bank of America Drops $5 Debit Card Fee

Outrage took over when Bank of America decided to add a monthly fee for customers with a debit card account. The $5 fee was supposed to take effect in January of next year, and it would have been applied to customers with basic checking accounts. In today’s economy, it’s no wonder banks are starting to find ways to get out of the financial crisis. Instead of charging risky customers even heavier interest rates and fees, Bank of America and a few other large banks decided to try to spread the cost more evenly.

Bank of America has already had to deal with multibillion-dollar lawsuits and financial losses, and when they made the announcement, they had to face new challenges as well. When the idea of this new fee surfaced to the public, Bank of America received a lot of backlash from customers. Some got together in Las Angeles and covered Bank of America ATM machines in yellow caution tape and protest signs. One customer got over 200,000 signatures on a petition to urge the company to cancel the fee, and many other customers went as far as switching banks entirely. Thousands of customers spoke their mind in social media, and some went as far as making videos to show their furry. Read more.....


  1. they'll figure something else out lol

  2. not gonna happen.
    great title. do you make all your money on the ad clicks?

    the only folks making money in today's market are the traders who collect their toll based on transaction volume, not wisdom.


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