Tag:
Debit Card
Latest Headlines
Latest Headlines
Banks ratchet up consumer fees
The debit card fee fiasco at Bank of America has only intensified the pressure to generate more fee revenue, to offset the effects of the Durbin Amendment and other reform measures.
We're already seeing banks impose more fees that may or may not be all that transparent. We're getting to the po
Bank of America axes second fee
Fresh off the Bank of America debit card fee fiasco comes word that the big consumer bank has scrapped another fee, this one associated with a clearly identifiable service.
The Boston Globe reports that the bank has decided not to go forward with a service that would have texted debit card
"Transparency" a vexing issue for banks
The debit card fee conundrum that engulfed Bank of America--a bank that certainly knows how to court controversy--has led a few politicians to propose a new fee transparency initiative.
They have asked banks to voluntarily adopt practices that would "post publicly" a clear fee disclosure box-
Banks explore fee options
We've been wondering how exactly banks will respond to the quick demise of the debit card fee.
In the case of Bank of America, the fee was nixed before it was ever charged. The analytical folks at the banks are no doubt scratching their heads, trying to figure out where the next big gravy trai
Bank of America's many errors on road to nixed debit card fee
In the end, Bank of America had no choice but to scrap its maligned debit card fee.
The public and political backlash against its new debit card fee was much more extreme than it expected. Other big banks were backing away, as were smaller regional banks. Regulators were upset. Politicians wer
Credit unions in tough spot on debit card fees
We've noted before that credit unions and community banks are licking their chops over the marketing opportunity presented by Bank of America's new debit card fee. Some are even running edgy TV spots. The public backlash against the fee has been stronger than expected, and more customers seemed pr
Banks already rethinking debit card fees
If Bank of America thought that imposing a hefty debit card fee on retail customers might spark a rush by other banks to do the same, it has been proven wrong. While there were some regional banks that piled onto the bandwagon--such as Regions and SunTrust-we're now seeing other national banks mov
Will Bank of America experience a "Netflix" moment?
We've noticed a lot of media outlets reporting that customers of big banks are moving their accounts to institutions perceived as more fee friendly.
Some have suggested that a "Netflix moment" is at hand for Bank of America and other banks that institute debit card fees. But as of right now, t
Banks defend ATM, debit card fees
Three lawsuits have now been filed against big banks and credit card network operators, alleging price fixing when it comes to charging ATM fees for debit cards.
The latest suit, filed Friday, targets Bank of America, Wells Fargo and JPMorgan Chase as well as Visa and MasterCard. The complaint
Poll: 83% of Bank of America customers want out
The brouhaha over Bank of America's $5 debit card fee has not gone away just yet.
The bank's customers continue to voice their displeasure, thought the big question remains: Will they ultimately punish the bank by voting with their feet?
An online spot poll from TheStreet.com has found
