Keep the Information Flowing
Small contributions go a long way. Your donation to Consumer Action, a 501 (c)(3) nonprofit, nonpartisan organization, can help us cover the cost of research, writing, and translation of our materials. To keep our services free for those who need them. Select an amount to give.
Released: November 17, 2011
The 1 bank fee that fell flat
Source: Tali Yahalom, CNNMoney
Following weeks of outrage over plans for a $5-a-month debit card usage fee, Bank of America surrendered in November, joining Chase, Wells Fargo, and other big banks in backing off from similar charges.
Despite the mass retreat, though, banks are still looking to recoup the $7 billion a year they’ll lose to new limits on the debit swipe fees that merchants pay.
Checking account maintenance fees, for example, seem to be sticking, so expect more action there. (Citibank (C, Fortune 500), for one, is raising both monthly charges and minimum balances.)
Read Full Article: The 1 bank fee that fell flat
Quick Menu
Support Consumer Action
Join Our Email List
Press Menu
Consumer Help Desk
- Help Desk
- Submit Your Complaints
- Frequently Asked Questions
- Links to Consumer Resources
- Consumer Service Guide (CSG)
- Alerts
- Consumer Booknotes