In response to public outrage, Bank of America is canceling plans to impose a $5 monthly debit card fee.
The announcement came exactly a month after Bank of America announced what many customers were calling “the final straw”, a $5 monthly fee to customers who use their debit card for purchases.
Bank of America said its decision to drop its plans was based on customer feedback, according to a statement.
“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David Darnell, co-chief operating officer for Bank of America.
“Our customers’ voices are most important to us,” Darnell said.
“As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”
Bank of America cited "the changing economics of offering debit cards" as an explanation for its plan on Oct. 1.
But the explanation only added to the frustration some customers said they had been feeling toward big banks and corporate greed.
Just one example from the USA LOCAL NEWS Facebook page came from Debbie Hennessey, who posted her thoughts when we reported the story a month ago.
“Um, they can kiss my butt! I’ve been a customer for 30 years. They need to do better than that!”
Looks like Bank of America listened this time.
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