1. Bank of America to Start Charging Debit Card Fee
... stems from Senator Richard Durbin's bill that overhauled the banking system by capping the amount of money that banks can charge stores for debit card uses. After announcing its plan to lay off nearly 30,000 employees, Bank of America sought other sources to cut the losses from the new government regulations, and immediately turned 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 Chi...
- Word Count: 395
- Approx Pages: 2
- Has Bibliography