November 2, 2011

Debit fees spark 'anti-big-bank' sentiments

Amid a consumer backlash that went as high as the White House, Bank of America on Tuesday became the latest bank to scrap plans to charge customers a monthly fee to use their debit cards. Consumer resentment against the fees is so great, in fact, that it triggered a viral, grassroots movement that calls for bank customers to shift their money to credit unions and community banks on Saturday, which has been dubbed "Bank Transfer Day."

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