[rottndog]

But if you're happy with BofA charging a $5 fee every time you bought a $1 pack of gum, then that's your choice.

You're right...it would be my choice. Just as it's your choice whether or not to use BofA. It's BofA's choice to charge whatever they want. I don't care if BofA charged $10 per transaction and %50 interest rates. I simply choose not to use them. So would the vast majority of consumers.

Funny how you bitch about BofA, when it's Walmart and the other retailers who are pocketing that money. When the gubmint limited what banks could charge, YOU didn't and won't see that money in the form of lower prices. BTW...in fairness to BofA, the $5 fee is not per transaction--at least you can be honest here.

[Dilbert San Diego]

So it’s $5 per month, not $5 per transaction. So it’s a $60 annual fee to use that debit card now.

Well, here I think we might see banks competing for business. Some banks may charge less than $5 per month, or might waive the fee if you keep a minimum balance, or give other incentives to keep the cost to the customer down. We’ll have to see if every bank charges $5 or if some charge less, or some waive it.