Bank Of America Dropping Plan For $5 Monthly Debit-Card Fee | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

    Bank Of America Dropping Plan For $5 Monthly Debit-Card Fee

    Steve Rhodes: http://www.flickr.com/photos/ari/5957988430/

    Bank of America just confirmed that it is dropping a plan to charge many of its debit-card customers $5 a month if they use them to make purchases.

    "We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee," David Darnell, co-chief operating officer, says in the statement BofA just issued. "Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

    The Wall Street Journal broke the news and others, such as Bloomberg News, have followed.

    BofA's plan, announced in late September, wasn't popular with many customers and consumer rights activists. Sen. Dick Durbin, D-Ill., said the bank was "sticking it" to customers.

    Last week, JPMorgan Chase & Co. said it was dropping plans for a $3-a-month pilot project. Other banks, including U.S. Bancorp, Citigroup Inc., PNC Financial Services Group Inc. and KeyCorp, also decided not to try to impose such charges.

    Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

     

    NPR

    In An Earthquake, History Fuels One Writer's Anxiety

    An earthquake in Napa Valley this week brought back old fears for author Gustavo Arellano. In his anxiety he's revisiting the book A Crack in the Edge of the World.
    NPR

    Real Vanilla Isn't Plain. It Depends On (Dare We Say It) Terroir

    There's no such thing as plain vanilla — at least if you're talking about beans from the vanilla orchid. Whether it's from Tahiti or Madagascar, vanilla can be creamy, spicy or even floral.
    NPR

    Federal Judge Blocks Texas Restriction On Abortion Clinics

    Requiring every center that performs abortions to meet all the standards of a surgical center is excessively restrictive, says the federal district court judge who blocked the state rule Friday.
    NPR

    Tech Week: Uber's Tricks, JPMorgan Hacked & A Desk Microwave

    Also in this week's roundup, Amazon's $1 billion purchase surprises some tech watchers. But we're most excited about finding a way to avoid physical exertion at lunch.

    Leave a Comment

    Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.