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