Dave Manuel Logo
Thursday, November 27, 2014
Click Here to Subscribe to My Free Newsletter

DaveManuel.com BLOG POSTS
FRONT PAGE
ABOUT
SEARCH
CONTACT ME
SPECIAL FEATURES
INTERNATIONAL
ARTICLE ARCHIVE
BLOG POSTS
DICTIONARY
POLITICIANS
POL. NET WORTH
OTHER NET WORTH
U.S. DEBT CLOCK
NEWSLETTERS
DEALS
U.S. UNEMPLOYMENT
INFOGRAPHICS
NEWSLETTER
ADVERTISE
ARTICLE FEED
BLOG FEED



2012-03-02 21:28:00 - By

Bank of America Not Giving Up on Charging New Fees




Bank of America logo If you thought that Bank of America was going to quietly back down in its attempt to hang new fees on its customers, think again.

In 2011, Bank of America (and other banks, but Bank of America was the primary target of outraged customers) created a firestorm when they announced that they were going to institute a $5/month usage fee for its millions of debit card holders. The move came as a result of Bank of America needing to drum up new fees after sweeping regulations resulted in lower revenues from merchant swipe fees and bank overdraft charges, amongst other things.

Bank of America thought that they could recoup the lost revenues in the form of their proposed debit card fee, but the resulting firestorm caused them to eventually back down. It was widely assumed that Bank of America's executives would go back to the drawing board and return with some new fee proposals.

Sure enough, Bank of America is reportedly working on implementing new monthly fees for those with basic checking accounts. According to the Wall Street Journal, BofA may charge as much as $25 per month for an "Essentials" account. Pilot programs in Arizona, Georgia and Massachusetts have reportedly been experimenting with a monthly fee of between $6 and $9.

According to a memo that was reportedly distributed to Bank of America employees, customers could avoid the monthly payments by maintaining a minimum balance, using a Bank of America credit card or taking out a mortgage with the bank.

Will Bank of America customers stand for this latest attempt to increase revenues? Will the bank back down once again? What do you think?

Source: WSJ.com - Big Bank Weighs Fee Revamp


Filed under: General Knowledge



COMMENTS - What Say You?

No comments yet.

Leave a Reply (No Registration Required)

Name:



Your Comment:








Related Articles
Warren Buffett - Illustration - Thinking Green
Posted on: 2014-08-27 04:09:00
Warren Buffett Under Fire For Berkshire Hathaway's Role in Burger King/Tim Hortons Deal

Posted on: 2014-03-07 22:29:00
February Employment Report: Unemployment Rate Rises to 6.7%
Job - Heading to Work - Illustration
Posted on: 2014-02-07 21:35:00
113,000 Jobs Added in January
Dow Jones - Additions and Subtractions - DJIA - Logo - Illustration
Posted on: 2013-09-10 18:15:00
Alcoa, Bank of America and Hewlett-Packard To Be Dropped From Dow Jones industrial Average
Unemployment Statistic - Illustration
Posted on: 2013-04-05 17:42:00
US Economy Added 88,000 Jobs in March








Twitter

421
Twitter $$


SPECIAL FEATURES

Debt Ceiling Changes (1940-Present)

United States Debt Clock

Where Did The DJIA/NASDAQ/S&P 500 Trade On..

Historical GDP Numbers for the United States

Historical Spending Increases

US Government Spending Breakdown 1962-2015

History of Deficits and Surpluses in the U.S.

History of Debt In The United States

Largest Foreign Holders of US Debt

Historical Gold Prices

Inflation Calculator

What Did It Cost?

Hedge Fund Filings

Historical Unemployment Rates in the United States

Historical State Unemployment Rates

Canada Debt Clock

A History of Bank Failures in the United States

Dow Jones Historical Data

Nasdaq Historical Data

S&P 500 Historical Data

Median Household Income History

House of Representatives History

Compound Interest Calculator

List of Failed US Banks 2014

Historical Unemployment Rates in Canada

UK Debt Clock

Intragovernmental Holdings

Historical Fed Funds Rate

Historical Bitcoin Prices

Financial Twitter Alerts




BLOG POSTINGS

Institutional Funds Flock To Alibaba

Las Vegas: Democrats Currently The Favorites To Win in 2016

Los Angeles Clippers Likely To Fetch $1 Billion+ in Sale

Mark Cuban Not Sweating His Lack of Involvement in Box IPO

Vince McMahon a Billionaire Once Again

Parsing Obama's 2014 State of the Union Address

NHL Franchise Values Continue To Soar

Twitter To Trade Under TWTR Symbol

Shares of Tesla Drop on Downgrade, Car Fire

More Problems Arise For JC Penney



INTERNATIONAL

Etoro Rezension

Os Dois Principais Corretores de Forex no Brasil

Meus Corretores Forex Brasileiros Favoritos



POLITICAL NET WORTH

Ted Cruz Net Worth

Marco Rubio Net Worth

Hillary Clinton Net Worth

John Boehner Net Worth

Paul Ryan Net Worth

Rick Santorum Net Worth

Newt Gingrich Net Worth

Mitt Romney Net Worth

Ron Paul Net Worth

Joe Biden Net Worth



OTHER NET WORTH

Lionel Messi Net Worth

Rand Paul Net Worth

Dr. Dre Net Worth

Wayne Rooney Net Worth

Johnny Manziel Net Worth

Stephanie McMahon Net Worth

Satya Nadella Net Worth

Paul Allen Net Worth

Adam Silver Net Worth

Peyton Manning Net Worth

Jay-Z Net Worth

Winklevoss Twins Net Worth

Chris Christie Net Worth

Adrian Peterson Net Worth



MOST RECENT DICTIONARY ENTRIES

Downtrend

Battlebus

Ballot Box

Market Timer

Annex

Cold Storage

Asset Allocation

Surge Pricing

Vault Cash

Hot Wallet




CREDIT CARDS AND OTHER SERVICES

The Top Three Online Stock Brokers In Canada

The Top Two Forex Brokers in Canada

PersonalLoans.com Review

Economist GMAT Tutor Review

MyHosting.com Promo Code

Media Temple Special Offer Code

Etoro - Tap Into The Power of the World's Largest Social Investment Network

Certified Hosting Promo Code

Yahoo! Web Hosting Coupon Code

Hostpapa Coupon Code

Hostgator Coupon Code

Fatcow Discount Coupon Code




ARTICLE ARCHIVES

Blog Posts

Company Reviews

Daytrading

General Knowledge

General Market News

Health + Fitness

Hedge Fund News

Internet Companies

Making Money Online

Motivational

Online Forex Trading

Real Estate News

Stock Market Education

Stock Market Scandals

The Economic Meltdown

Trader Profiles



DaveManuel.com - Copyright 2014, All Rights Reserved | Advertise | Privacy Policy | Disclaimer