thedailywhat: Bank Of America Backlash of the Day: Score 1 for the 99: Backlash from consumers has forced Bank of America to ditch its plan to charge a $5 monthly fee on debit card usage. “We have listened to our customers very closely over the last few weeks,” said Bank of America Co-Chief Operating Officer David Darnell, “and recognize their concern with our proposed debit usage fee.” BoA’s shares dropped 6 percent in the wake of the announcement. Several banks recently decided to scrap similar test programs, while others canceled existing fees. “It’s a sign of consumer power in action,” Norma Garcia of Consumers Union was quoted as saying. “This is a sign of the marketplace working.” [reuters / cheatsheet.]
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thedailywhat:

Bank Of America Backlash of the Day: Score 1 for the 99: Backlash from consumers has forced Bank of America to ditch its plan to charge a $5 monthly fee on debit card usage.

“We have listened to our customers very closely over the last few weeks,” said Bank of America Co-Chief Operating Officer David Darnell, “and recognize their concern with our proposed debit usage fee.”

BoA’s shares dropped 6 percent in the wake of the announcement. Several banks recently decided to scrap similar test programs, while others canceled existing fees.

“It’s a sign of consumer power in action,” Norma Garcia of Consumers Union was quoted as saying. “This is a sign of the marketplace working.”

[reuters / cheatsheet.]

1445 Notes/ Hide

  1. thatonebumct reblogged this from briandublin
  2. alexisanneroan reblogged this from briandublin and added:
    yayyyyuhhhh
  3. vangard2 reblogged this from thedailywhat and added:
    always sort’ve terrified me. I think even...kid I could see that it wasn’t a good...
  4. tomorrow-morning reblogged this from ggabriellaa
  5. clarisse-mcclellan reblogged this from tyleroakley
  6. katastrophe7 reblogged this from wolffangs
  7. xxxxxyaminoreyxxxxx reblogged this from thedailywhat
  8. chaser-power-elite reblogged this from thedailywhat and added:
    Good job BOfA
  9. trip-stumble-and-fall reblogged this from tyleroakley
  10. generalwickedness reblogged this from thedailywhat
  11. overlygeneric reblogged this from tyleroakley
  12. fignewtonsaregood reblogged this from eugeneyang and added:
    yay thank goodness :)
  13. ex-cuse-u reblogged this from kcalron and added:
    As a BoA consumer, this is hugely important.
  14. lifeblossoms reblogged this from thedailywhat
  15. femalewithopinions reblogged this from thedailywhat and added:
    I DON’T HAVE TO PAY EXTRA TO USE A DEBIT CARD! (they really are an awful bank)
  16. skywalkermcfly reblogged this from vukizzle
  17. crysomemoar reblogged this from relright and added:
    You DO understand, that ALOT of banks and credit unions have a monthly fee…. crysomemoar.
  18. chemicallyunwound reblogged this from relright
  19. sinshine reblogged this from diereklamation
  20. relright reblogged this from tyleroakley and added:
    It was so atrocious that they thought they’d get away with that in the first place
  21. addisontyrie reblogged this from wiley--coyote
  22. cheeseoneverything reblogged this from cardiganism
  23. oreadfarallon reblogged this from tyleroakley
  24. preachelectric reblogged this from thedailywhat
  25. younglegs reblogged this from thedailywhat and added:
    like
  26. jiralaughingalonewithjarate reblogged this from chipanchipan
  27. xi-er reblogged this from she-hulk-smash