After legislation was passed last year to restrict the fees that the banks can charge on certain transactions, the banks have found new ways to charge their customers in different ways to make up the lost revenue. And starting sometime after the new year, Bank of America is going to charge its customers a $5 monthly fee to use a debit card. Is this fair? The BoA CEO thinks so!
According to Yahoo, the Bank of America CEO, Brian Moynihan, is not only supporting the decision to start charging for their debit cards, but he insists that so will the customers. “…they’ll understand what we’re doing — understand we have a right to make a profit.”
Read more about what the plans are for Bank of America, at Yahoo.com