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Federal Reserve System

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Bank Of America Blames New $5 Debit Fee On Durbin Measure

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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 →

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