BofA dropping five dollar debit fee!

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BofA dropping five dollar debit fee! - 11/1/2011 12:40:16 PM

Lucylastic

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http://www.huffingtonpost.com/2011/11/01/bank-of-america-debit-card-fee_n_1069425.html
A month later BofA and other banks seem to have rethought those economics.

Other major banks that had been planning new debit fees, including Citigroup and Wells Fargo, have also abandoned their plans. And just hours before BofA's announcement, two of the country's largest banks, SunTrust Banks and Regions Financial Corporation, announced that they would be dropping their fees for debit-card purchases. BofA did not immediately respond to questions about how the economics basis of the changed policy.

After Bank of America announced the fee, critics took to Twitter to deride the bank. President Barack Obama also criticized the fee saying in an interview with ABC News that banks don't have a right to mistreat their customers. The proposed BofA fees have been a common complaint from Occupy Wall Street protesters.

They also drew congressional derision.

well this is good news but on the other hand....
http://www.huffingtonpost.com/2011/11/01/bank-fees-unemployment-benefits_n_1033700.html

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RE: BofA dropping five dollar debit fee! - 11/1/2011 12:46:12 PM

Iamsemisweet

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B of A will find a way to fuck people coming and going. That is just how they roll.
Pretty funny about the ATM fee, though. I guess they do realize that it matters what their customers think of them.

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RE: BofA dropping five dollar debit fee! - 11/1/2011 12:46:54 PM

SternSkipper

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Ain't a soul in the world who can say this wasn't something that the Occupy Movement doesn't deserve a HUNK of credit for bringing attention to. I remember the throngs of emails with "Tell everybody you know to take action NOW" with phone numbers and email addresses and the following day they were making noises of reconsideration. Sure... we weren't the only folks on board. But I guarantee that if we weren't, next month's statement would be a different story altogether.

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RE: BofA dropping five dollar debit fee! - 11/1/2011 12:48:54 PM

Iamsemisweet

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quote:

Ain't a soul in the world who can say this wasn't something that the Occupy Movement doesn't deserve a HUNK of credit for bringing attention to.

I am sure there are people on these boards (Sanity, maybe?) who will put that statement to the test.

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RE: BofA dropping five dollar debit fee! - 11/1/2011 12:51:42 PM

SternSkipper

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quote:

B of A will find a way to fuck people coming and going. That is just how they roll.
Pretty funny about the ATM fee, though. I guess they do realize that it matters what their customers think of them.

People give BOA, Goldman Sachs, et al too much credit for being ahead of the curve. This is proof they can be anticipated and outmaneuvered. As if the failures of 2008 weren't proof enough.
They AREN'T the final word in this country is we band together and SAY THEY AREN'T.

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RE: BofA dropping five dollar debit fee! - 11/1/2011 12:52:02 PM

LillyBoPeep

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nice! nice to see public action have an effect!
but there's still that merrill lynch thingie...

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RE: BofA dropping five dollar debit fee! - 11/1/2011 1:11:10 PM

mnottertail

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quote:

ORIGINAL: Iamsemisweet

quote:

Ain't a soul in the world who can say this wasn't something that the Occupy Movement doesn't deserve a HUNK of credit for bringing attention to.

I am sure there are people on these boards (Sanity, maybe?) who will put that statement to the test.

He has, and said that the ripoff fees limit bill introduced by some democrat caused all the rates to raise, but indeed we see a free market (insofar as we are able) mechanism at work.

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