1. Bank of America to Start Charging Debit Card Fee
... lawsuits and financial losses from its questionable mortgage practices during the housing boom (Halzack). Bank of America's decision 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 ... on the savings to customers (The Chicago Tribune). However, even Durbin disagrees with the bank'...
- Word Count: 395
- Approx Pages: 2
- Has Bibliography