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Released: September 30, 2011
Banks to make customers pay fee for using debit cards
Source: Tara Siegel Bernard and Ben Protess, NY Times (Free Registration)
Bank of America, the nation’s biggest bank, said on Thursday that it planned to start charging customers a $5 monthly fee when they used their debit cards for purchases. It was just one of several new charges expected to hit consumers as new regulations crimp banks’ profits. Wells Fargo and Chase are testing $3 monthly debit card fees. Regions Financial, based in Birmingham, Ala., plans to start charging a $4 fee next month, while SunTrust, another regional powerhouse, is charging a $5 fee.Read Full Article: Banks to make customers pay fee for using debit cards
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