"Kurt Ullman" wrote in message
m...
In article ,
"Ed Pawlowski" wrote:


This summer, an Associated Press-GfK poll found that two-thirds of
consumers
use debit cards more frequently than credit cards. But when asked how
they
would react if they were charged a $3 monthly debit card fee, 61 percent
said they'd find another way to pay.

With a $5 fee, 66 percent said they would change their payment method.


Interesting. Was tell my bank to KMA and go somewhere else" an option?

Apparently, a lot of people, including me, took their money out to the
extent that BoA is no longer the number one bank in terms of assets. They
were trying to punish Congress through the people and ended up shooting
themselves in the foot. I'm betting a lot of people will be leaving in the
future just because they tried such a stupid stunt and that the payback for
BoA is going to be quite painful. Good on 'em.

BofA backpedals on $5 debit fee
Chase opts out of debit-card fee
Another fee bites the dust: Wells Fargo backs off debit charge

http://latimesblogs.latimes.com/mone...-card-use.html

Bowing to a national flood of protests, Bank of America Corp. is calling
off its plan to charge customers $5 a month for using its debit cards to
make purchases -- a strategy that proved a public relations disaster for
what once was America's biggest bank. Analysts had believed the rest of the
banking industry would follow BofA in imposing similar fees to make up for
new rules restricting the fees banks charge merchants for accepting debit
cards . . . Bank of America lost its No. 1 ranking in asset size to JPMorgan
Chase & Co. at the end of September, though it still has the most total
deposits. It announced its decision on the debit fee Tuesday morning in a
two-paragraph statement citing "customer concerns and the changing
competitive marketplace."


--
Bobby G.