Big Banks Crying “Uncle” On Debit Card Dust-Up

By Anthony Silva, WBZ NewsRadio 1030 New England Business Editor

BOSTON (CBS) – Major banks are retreating from their earlier decision to impose fees for using your credit cards.

Bank of America is the latest. That follows similar moves by JPMorgan Chase and Wells Fargo to ditch plans to charge up to $5 a month for making debit card purchases. Banks ran up against a wall of resistance from consumers after those earlier plans were announced.

I spoke in the WBZ studios with Dan Eagan, head of the Massachusetts Credit Union League.

Listen to the interview

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  • Bev Boudrias Melo

    I just heard BZ’s on air “talent”, Jack Whatever, read this report about BoA dropping the monthly user fee…NOT ONE WORD ABOUT THE OCCUPY MOVEMENT HAVING ANY EFFECT ON BoA’S DECISION. NOT ONE WORD??? Puh-lease…..this didn’t happen because BoA rethought their policy and outta the goodness of their heart decided to be good neighbors and treat their customers right. It happened because of a grassroots movement taking place RIGHT NOW in Dewey Square. C’mon, WBZ…give credit where credit is due!

  • Big Banks Crying “Uncle” On Debit Card Dust-Up | Many Top NEWS

    […] their earlier decision to impose fees for using your credit cards. Go here to see the original: Big Banks Crying “Uncle” On Debit Card Dust-Up advertising Posted in: Credit, Credit Cards, Uncategorized   Tags: credit, credit cards, […]

  • Italo

    Then if Occupy Boston members had anything to do with influencing BoA and its decision so much, I wonder how many of the Occupy-ers impressed BoA to the point of being asked in for interviews to be considered for positions at one of the many jobs the groups’ members seem eager to want to have better access to, so that they can become employed…I think..

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