money2

BOA Drops $5 Monthly Debit Fee Plan

After its competitors dropped their planned fees, and faced with public backlash, BOA cuts plans for a new debit fee. Bank of America Corp. (BOA), which announced plans for a $5 monthly debit card fee in late September, has abandoned the idea following nationwide backlash from consumers and lawmakers, Bloomberg reported. The bank fee would

cardswipe

Lawmakers Look To Repeal Durbin Swipe Fee Caps

Two U.S. House lawmakers plan to introduce a bill to repeal a Federal Reserve rule capping debit-card swipe fees, Bloomberg reported today, Oct. 12. Representatives Jason Chaffetz, a Utah Republican, and Bill Owens, a New York Democrat, are introducing a measure later today to repeal the rule required under the 2010 Dodd-Frank Act, John Hadlock,

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