Bank of America has announced that it has changed its mind and will not start charging customers $5 a month for using their debit cards. Other banks have dropped similar fees as well.
Of course, I’m waiting for the other shoe to drop and for them to announce other fees instead.
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One Comment
Wells Fargo had announced several days before that it was dropping its proposed fee and one can assume that some level of public pressure led to that decision. Was not received well by those of us tired of paying bankers billions of dollars in bonuses every year for doing such sterling work. I was pleased to see that BoF followed suit. Smart business move.