1. Bank of America to Start Charging Debit Card Fee
... to consumers to gain back their profits (Dennis). Basically, Durbin's amendment to the Dodd-Frank financial regulation takes money from banks and gives it to retailers, but retailers have announced no plans to pass on the savings to customers (The Chicago Tribune). However, even Durbin disagrees with the bank's decision to maintain profits by charging customers. "Bank of America is trying to find new ways to pad ... its profits by sticking it to its customers," he said (The Chicago Tribune). ... $5 fee may not seem like a lot, but it's the principle of the thing - more and more coming...
- Word Count: 395
- Approx Pages: 2
- Has Bibliography