1. Bank of America Decides Against Debit Card Fee After Customer Backlash
... ," said Patricia Hewitt, an employee of Mercator Advisory Group Inc. who specializes in debit cards (Fitzpatrick). Not only were ordinary citizens angered by this decision, but many political mega-figures also expressed their anger. President Obama and Senator Richard Durbin specifically disagreed with the fees, as they were the ones that lobbied for the reduction in merchant fees. However, they did not ... imagine that the bank would then put the burden of making up these lost profits on their customers. In fact, Senator Durbin sent John Stumpf, the Wells Fargo Chief Executive, a letter...
- Word Count: 786
- Approx Pages: 3
- Has Bibliography
- Grade Level: High School