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via Tom Braithwaite, Financial Times Bank of America became the latest US bank to scrap plans for a debit card fee, acting after worries that customers of the second-largest US bank by deposits would move their accounts. BofA said its u-turn was a “response to customer feedback and the changing competitive marketplace”. Analysts had worried … Continue reading
Bank of America announced Thursday it will charge its debit card users a $5 monthly fee beginning in early 2012, provoking fury from a senior Democrat. The bank, the largest in the nation by assets, blamed its decision on the so-called Durbin Amendment, a provision of the Dodd-Frank financial reform law put into place by … Continue reading
The Brandt Standard 