1. Bank of America Decides Against Debit Card Fee After Customer Backlash
... . Major banks who intended to enforce the fee were attempting to recover some of the losses that recent legislation has caused them. As a result of a revision to the Dodd-Frank financial overhaul law, the amount that banks are allowed to charge merchants for ... accepting debit was cut by more than 50%. To counteract the reduction in profits, banks installed many new fees on services that were previously free. However, the charge on debit card usage garnered the most widespread backlash as it affected the greatest number of ... also (Fitzpatrick). "We've listened to our clients' feedbac...
- Word Count: 786
- Approx Pages: 3
- Has Bibliography
- Grade Level: High School