Bank of America Backs Off Debit Usage Fee Plan
Posted on November 1, 2011Bank of America has backed off plans to implement a $5 monthly debit card usage fee. Bank of America issued a statement saying that it no longer intends to implement a debit usage fee. Many customers were very angry about the planned fee. Even Vice President Joe Biden criticized the debit card fee.
David Darnell, co-chief operating officer of Bank of America, said in 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. Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."