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Bank of America Drops Plan for Debit Card Fee
TARA SIEGEL BERNARD
The New York Times
November 1, 2011
Bank of America said Tuesday that it was abandoning its plan to charge its customers a $5 fee to use their debit cards, just a month after announcing the new fee.
The reversal follows a huge backlash from customers, one of whom collected more than 200,000 signatures urging the bank to rethink its plan.
The bank listened, but only after other large banks had indicated that they would not impose similar fees. Wells Fargo, JPMorgan Chase, SunTrust and Regions Financial have all pulled back on their plans.
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