A Letter Request

[Boyd]

Speaking of that...how about that Bank of America fee? I'd dump them right away. Pretty soon they'll figure out how to charge you money for using greenbacks.

Bank of America has done a complete 180 on this fee now. It's nice to see that the free market really can sort these things out all by itself sometimes.

http://online.wsj.com/article/SB10001424052970203707504577012233780743536.html

Debit-Fee Retreat Complete
Bank of America Becomes the Last Major Lender to Drop Plans to Charge Customers for Usage

By ROBIN SIDEL And DAN FITZPATRICK

The banking industry's brief experiment with charging customers to use their debit cards appears to be over.

The about-face concluded on Tuesday when Bank of America Corp. dropped plans to charge customers $5 a month for using their debit cards to make purchases.

Bank of America was the last major bank to back away from the fees, representing a swift retreat in an industry that is at times known for its lumbering decision-making.

 

[bobpbx]

From the article:

"The reversal means that it and other banks will have to figure out new ways to recover revenue that is being lost from a host of new regulations on debit cards, credit cards and overdraft fees."

How about lowering those executive salaries and stock perks?

 

[46er]

How about lowering those executive salaries and stock perks?

Have to agree and it needs to start with tax payer sponsored agencies.

http://www.bizjournals.com/washington/news/2011/11/01/fannie-mae-freddie-mac-shell-out-big.html