Sunday, November 13, 2011

Bank of America Axes Debit Fee

They called it the fee that went too far.

For the past month, consumers have been railing against a new Bank of America charge requiring customers to pay $5 a month to use their debit cards for purchases. More than 300,000 people signed an online petition to stop the planned fee. More than 21,000 people pledged to close their Bank of America checking accounts. One cable news anchor cut up her card on the air.

It was a classic David-and-Goliath fight, fueled by the growing populist outrage against the nation’s financial system. On Tuesday, the little guy won: Bank of America announced that it was abandoning the fee...

Full Article:
Bank of America scraps debit card fee after consumer backlash
Ylan Q. Mui
November 1, 2011
http://www.washingtonpost.com/business/economy/bank-of-american-drops-debit-card-fee/2011/11/01/gIQADvugcM_story.html

1 comment:

WiseFather said...

I made a video protest recently for my blog. It is quite funny even if you are pro-megabank. I called my credit card's customer service line to do some negotiating. Having a bit of leverage, I thought it presented a great opportunity to mess with them a little and make a few points about the unfairness of the credit card lending system. Since it's a protest at home, I called it my kitchen counterstrike against Bank of America. I think you might enjoy it. http://www.ragingwisdom.com/?p=508