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Succumbing to weeks of pressure, Bank of America (BAC) drops its plan to charge a $5 monthly fee...

Succumbing to weeks of pressure, Bank of America (BAC) drops its plan to charge a $5 monthly fee for use of a debit card, reports the WSJ.
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Comments (5)
  • warrenrial
    , contributor
    Comments (559) | Send Message
     
    They will just find another way to screw the customers.
    1 Nov 2011, 11:48 AM Reply Like
  • mogando
    , contributor
    Comments (313) | Send Message
     
    just do the opposite - instead of punishing those who use debit, "reward" those who don't use debit purchases by monthly maintenance fee rebates

     

    either that, or just jack up monthly fees across the board and jack up the minimum balance requirements too
    1 Nov 2011, 11:50 AM Reply Like
  • Trader 611
    , contributor
    Comments (59) | Send Message
     
    On my bus ride into work today, I saw 'OWS' spray painted in black letters on a BofA billboard.
    1 Nov 2011, 11:57 AM Reply Like
  • Ted Bear
    , contributor
    Comments (598) | Send Message
     
    I can see Moynihan testifying in front of Congress: If only we had not had to succumb to market pressure to withdraw our $5 scam fee, we would have been able to pair it off with our trillions in derivative exposure and we would have survived.

     

    But, the public 'just doesn't understand our business model...'

     

    Well, he's right about that!
    1 Nov 2011, 12:00 PM Reply Like
  • new slang
    , contributor
    Comments (169) | Send Message
     
    Trillions of dollars of derivatives outstanding is not to be confused with trillions of dollars of derivative exposure... one is talking about the notional on the deal and the other the amount of money that will actually have to be paid
    1 Nov 2011, 03:39 PM Reply Like
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