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Released: November 02, 2011
Bank of America fee retraction shows effect of consumer rage
Source: Bruce Horovitz, USA Today
Consumer rage in an electronic age has corporate titans doing something few have so willingly done before: back-pedaling.
When Bank of America announced Tuesday that it was nixing its widely panned plan to charge consumers a monthly $5 debit card fee, it joined a handful of other familiar banks that also had back-pedaled. The unusual moves follow a recent, customer-instigated about-face by Netflix, which scrapped plans to split into two businesses and ultimately charge customers more.
Read Full Article: Bank of America fee retraction shows effect of consumer rage
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