Remember the $5 monthly fee Bank of America planned to roll out for all its debit card customers? In a complete reversal, the bank now — one month later — says it's dropping plans to introduce that fee. It’s a big victory for the 200,000 customers who signed a petition on Change.org calling for Bank of America to drop this fee.
To learn more The Takeaway is joined by Pamela Banks, senior policy council for Consumers Union, and Ron Lieber, personal finance reporter for The New York Times.
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Comments [6]
I think Bank of America customers should still keep closing their accounts and put their money into local banks and credit unions. It's like the bank cheated [on] you and after one apology you take them back? Make them pay.
More distractions as we worry about five dollars while some are calling for reforming the revenue code which is targeting retirement accounts and other deductions.
Of course no mention of Dodd/Frank and Durbin's role in this fiasco.
for 25 years every time i moved my account, boa bought the new bank. I had an REI account in Seattle. BoA bought it. my current account was givent to me by boa at 1% one year guarantee. I transfered US$8,000.00 to the new 1% account. the next day i was charged a late fee and my interest went to 30% and the 14% account was raised to 30%. then that account was sold. I never notified. i never got the new account # or card. they screwed up the address. but us$2,000.00 was added in fees before i ever got any statements. i was already in default. my credit went from 750 to 450. so i am never paying the english bank that bought that card account. i can't.
i have 25 years of BoA's mistakes. Once when i was working in Oman, they sent about US$60,000 from my account to ALBANIA. I called BoA while the Albanian Bank was on the phone with me. They said they had NOT sent the money to albania. I gave them each other's number. No records in BoA of the mishap. I wanted cash in my Muscat Bank branch [not $60 thousand] and they sent it to Albania. If the bank in Albania hadn't called what would have happened?
I didn't even bother to get the names. No matter what I did, BoA would win any suit I brought. I hate BoA somewhere up with Milosevic Karadzic Josef Mengele GwhBush Cheney Göbbels KKK Atatürk
they are a cruel crımınal endeavor
i don't even have their account # or their address and they don't have mine. Bank of America? told me where to go.
Most people have taken a 15% pay cut,
or have lost jobs completely. The banks shouldn't expect to maintain their margins either. While costs go up & up, our paychecks go down & down!
Put all those BoA CEOs out of business, esp. for the shareholders. Did they have any smarts to initiate such a step to begin with? Economy is bad, people are unemployed....... the banks just got saved by the taxpayers, and they want more $ like that? These CEOs just were born with silver spoons in their mouths, totally lacking in compassion and common sense in milking people at such times.
RE: Bank of America. We are NOT all stockholders. The bottom 50% of Americans own 1% of of investments, and the bottom 80% own only 7%.
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