Earlier this morning, The Takeaway reported on Bank of America's reversal on its plan to charge customers a $5 monthly fee for using debit cards. Public outrage coupled with over 300,000 signatures to a Change.org petition calling for Bank of America to drop the fee led to the reversal. Molly Katchpole, the woman who spearheaded the public effort to get B of A to reverse their position, talks about her victory.

• Congress Takeout: Todd Zwillich talks about how House Democrats are hoping to vote on their version of a health care reform bill later this week, while Republicans launch a media campaign opposing it.
• Money Takeout: Credit reporting agencies are required by law to provide you a free report every year … but that hasn't stopped them from writing insanely catchy jingles to draw customers towards paid options. Louise Story, finance reporter for our partners The New York Times, joins us to discuss when "free" actually means "expensive," and what the FTC is trying to do about it.
• Sports Takeout: Ibrahim Abdul-Matin recaps Monday Night Football, as the Atlanta Falcons faced the resurgent New Orleans Saints.

Last week, we looked at how some banks were canceling consumer credit cards without warning and how consumers could avoid it by using their cards more. That discussion sparked a debate about whether people can get by without credit cards at all. We speak to two people who are doing just that: Joel Westendorf of Los Angeles; and Andrea Hermitt of Atlanta. Takeaway contributor Beth Kobliner lays out some of the logistical benefits and drawbacks of life without plastic.

It's easy to see that things aren't going well for our economy: The Consumer Price Index is down, foreclosure rates are through the roof following the historic burst of the housing bubble, and more and more of the American workforce finds itself un- or under-employed. With all of these negative economic indicators, you wouldn't think it's a time for anyone selling anything to raise prices. Yet, across the country, public and private colleges have been raising their tuitions all year. In a report released yesterday by the College Board, four-year public college tuitions increased at an average of 6.5 percent from just one year ago. 

For a look behind the numbers, and for the long-term effects of high-cost higher education, we speak to Patrick Callan, president of the National Center for Policy and Higher Education.

The New York Times finance reporter Louise Story spent the weekend combing through Congressman Barney Frank’s (D-Mass.) 291-page plan for a new Consumer Protection Agency, and joins us to give us a Monday-morning book report.

This morning the finance committee of the U.S. House of Representatives kicks off a series of hearings on regulatory reform. Treasury Secretary Timothy Geithner will testify before Massachusetts Democratic Rep. Barney Frank's committee on a proposed revamping of the financial and consumer regulations. New York Times finance reporter Louise Story joins us with a look at the latest.

Elizabeth Warren, the Chairwoman of the Congressional Oversight Panel that monitors how the government spends its TARP (Troubled Asset Relief Program) money, has spent her career advocating for the American consumer. She supports the administration's proposed consumer financial protection agency, saying that consumers need clearer descriptions of their credit cards' rules and of financial products that they might invest in. The Takeaway talks with Elizabeth Warren about her hopes for the new consumer protection agency.

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Consumers are spending less money, so companies are using increasingly aggressive advertising techniques to compete for dwindling dollars. Does bashing your competitors help or hurt? Advertising consultant Cindy Gallop joins The Takeaway to describe the fierce ad climate.

This Domino's commercial is an example of the battle of the brands. Take a look.

Lawmakers have touted the credit card reform bill heading to the president's desk as "a victory for every American who holds a credit card." But Donna Rosato, a senior writer at Money Magazine, says consumer behavior is unlikely to change. She cites studies that say the mere act of carrying a card (credit or debit) increases the likelihood that you’ll spend more money, pay more for a specific item, and lose track of what you've spent. She also says this new bill will force credit card companies to raise fees and even add annual fees to make a profit. Ms. Rosato joins The Takeaway to talk about the reform bill — and how you should reform your own habits.

A bill to reform the practices of credit card companies is likely to end up on President Obama's desk before Memorial Day. So what's in this bill, and what does it mean for the average credit card user? To help us understand how this bill will affect consumers, we turn to finance writer Beth Kobliner, author of the book Get a Financial Life: Personal Finance in Your Twenties and Thirties.

This week may end with a new playbook for the credit card industry in America. President Obama summoned representatives from 14 banks that issue credit cards to the White House for talks today. But the legislative engine behind these changes is Senator Chris Dodd, Democrat from Connecticut, who has been pushing credit card regulation for a long time. He joins The Takeaway now to discuss the proposed changes to credit card accountability, responsibility and disclosure that he hopes to push through Congress. This bill would offer new consumer protections, including banning practices such as “any time, any reason” interest rate increases.

Desperate to not be deadbeats, hundreds of thousands of consumers are turning to debt settlement agencies to escape crushing piles of bills. Everyone has seen the ads: you call, they help, and eventually you are a debt free. But a report in today's New York Times says many consumers have begun to complain that those companies collect large fees and don't do much to help. Unfortunately, it seems the typical experience according to consumers is that a settlement company collects a large fee, often 15 percent of the total debt, and accomplishes little or nothing on the consumer’s behalf. Needless to say, state attorneys general are being flooded with complaints about settlement companies. The Takeaway talks with New York Times business reporter David Streitfeld for more on the story.

For more, read David Streitfeld's article, Debt Settlers Offer Promises but Little Help

Ads like this one from In Charge Debt Solutions offer consumers hope that they can help resolve disputes with debt colletors: