Wednesday, November 2, 2011

Morning roundup: Reactions to BofA dropping debit card fee

Here's a look at what's news in banking and finance:


So, what's your take on Bank of America cancelling the debit fee? Is it enough to help restore the bank's image?

2 comments:

Anonymous said...

Glad to hear they cancelled those plans. Probably should have went the route of Wells Fargo and "tested it" in areas before announcing nationwide plans.
I am sure they will still need to make up the lost revenue somewhere else or there will be even more people out of a job. That should make the Occupiers happy, right?

Anonymous said...

So the question is now, where will they get the $5 from? I remember when they rolled out ATMs. Banks claimed it would SAVE us money because they were so much cheaper than bank buildings. Now they want $3 a pop to use one. Then came electronic transfers. Again, a promise to save us money as there is no paper to track, process, etc. But most banks want a $20 fee for a wire transfer. Then debit cards. Oops, $5 a month. That one was too expensive and too transparent. Where will they get it now?