Banks turning away from new debit card fees
POSTED: Tuesday, November 1, 2011 - 12:43pm
UPDATED: Monday, December 26, 2011 - 4:42am
BATON ROUGE, LA (NBC33) — New information in the $5 monthly fee that Bank of America was going to charge its debit card customers. They've changed their mind. That's according to a statement from the nation's largest bank.
The decision comes after a loud outcry from customers, and politicians, such as Illinois Senator Dick Durbin, urging them to take their business elsewhere.
The move follows suit with other large banks, which dropped similar fees yesterday.
The same story here closer to home with Regions Bank.
Regions says they're going away with their $4 fee and refunding customers who have already been charged.
The fees at Regions started on Oct 1, 2011. As of today, Tuesday, Nov. 1 they are no more.