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Bank of America Will Not Implement Debit Usage Fee
Bank of America Website ^ | 11/01/2011

Posted on 11/01/2011 10:51:19 AM PDT by SeekAndFind

CHARLOTTE, N.C., Nov 01, 2011 (BUSINESS WIRE) --

In response to customer feedback and the changing competitive marketplace, Bank of America no longer intends to implement a debit usage fee.

"We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee," said David Darnell, co-chief operating officer. "Our customers' voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so."

Bank of America

(Excerpt) Read more at mediaroom.bankofamerica.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: bankofamerica; debitcard; usagefee

1 posted on 11/01/2011 10:51:22 AM PDT by SeekAndFind
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To: SeekAndFind

Classic case of “The market has spoken”?


2 posted on 11/01/2011 10:55:40 AM PDT by MichaelCorleone (Doesn't anyone love liberty anymore?)
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To: SeekAndFind

Good thinkin’, after your customers are angry and leaving.


3 posted on 11/01/2011 10:55:57 AM PDT by South Hawthorne (In Memory of my dear Friend Henry Lee II)
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To: SeekAndFind

OWS now has a scalp. Where is this headed next?


4 posted on 11/01/2011 10:57:17 AM PDT by Buckeye McFrog
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To: SeekAndFind

BoA is not going to eat this expense. They will just find a less noticeable way to extract it.


5 posted on 11/01/2011 10:57:28 AM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Buckeye McFrog

OWS has nothing to do with this. The customer has spoken.


6 posted on 11/01/2011 10:59:20 AM PDT by DarthVader (That which supports Barack Hussein Obama must be sterilized and there are NO exceptions!)
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To: SeekAndFind

Citibank is starting 20 dollar a month fees if you don’t maintain 15k balance. An extra 240 a year for nothing for a lot of people.


7 posted on 11/01/2011 11:01:52 AM PDT by Ted Grant
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To: SeekAndFind

“Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”

What we will be doing, is working tirelessly to institute a fee and penalty structure that is not as obvious, but much more punishing.

F...... Er, I mean, Thank you very much,

BOA


8 posted on 11/01/2011 11:02:53 AM PDT by brownsfan (Aldous Huxley and Mike Judge were right.)
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To: Ted Grant

“Citibank is starting 20 dollar a month fees if you don’t maintain 15k balance. “

I don’t know why, for most personal banking, someone wouldn’t use a small local bank, or credit union?


9 posted on 11/01/2011 11:07:24 AM PDT by brownsfan (Aldous Huxley and Mike Judge were right.)
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To: SeekAndFind

Durbin jumps up to take credit for this in

5..4..3..2..


10 posted on 11/01/2011 11:09:20 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: brownsfan

I agree.


11 posted on 11/01/2011 11:09:20 AM PDT by Ted Grant
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To: SeekAndFind

For those who wish to know more:

http://www.zerohedge.com/news/bank-america-forces-depositors-backstop-its-53-trillion-derivative-book-prevent-few-clients-dep

http://www.zerohedge.com/news/guest-post-ten-reasons-not-bank-or-bank-america

If you wish to not go to a blog like some flat earther, then don’t click the links!


12 posted on 11/01/2011 11:17:22 AM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: Ted Grant

Citibank is starting 20 dollar a month fees if you don’t maintain 15k balance. An extra 240 a year for nothing for a lot of people.

And Citibank will feel the wrath of the depositors too.

The depositors should demand they pay interest on the funds in their accounts, or pull their money out of the bank. Many smaller banks would be more than happy to accommodate them. It seems that the banks always sock it to the little guy and let the fig fish bank free, less the big fish goes someplace else.


13 posted on 11/01/2011 2:40:48 PM PDT by chainsaw (Sarah Palin would be my first choice. .)
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To: brownsfan
Many people are skeptical of small banks, which may or may not be convenient to them, additionally they may not have access to credit unions.
14 posted on 11/01/2011 3:12:59 PM PDT by newzjunkey (Republicans will find a way to reelected Obama.)
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To: SeekAndFind

Tell the “Occupy” people that they can go home now.


15 posted on 11/01/2011 8:16:32 PM PDT by the invisib1e hand (...then they came for the guitars, and we kicked their sorry faggot asses into the dust)
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