ShortFormBlog: Bank of America terminates their debit card fee plan

shortformblog:

  • $5 Bank of America debit fee to end over consumer outrage source

» Nickel and diming: You may remember that last month, Bank of America indicated they were going to start charging a $5/month fee for all their banking customers with debit cards. The ostensible justification for this…

“Other banks considered following suit, then backed down, leaving BofA out in the cold.”

This is possibly the best evidence of crony capitalism at work. When a large company does something like this, they consult their “competitors” and the practice becomes industry standard before the average consumer is aware that anything has changed. By working together large corporations make more profits by collectively screwing their customers.

Source: shortformblog

56 Notes/ Hide

  1. premium-magento-templates reblogged this from theweekmagazine
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  4. el-tang reblogged this from mfnvu and added:
    thank the lawwdd.
  5. rosesoeur reblogged this from theweekmagazine and added:
    Still hate this bank; esp after the horror stories I had to listen to all day, when I worked at a research company. I’m...
  6. stuffalongtheroad reblogged this from shortformblog
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  9. essenceofhumanity reblogged this from shortformblog and added:
    See what can happen when you let your voice be heard?
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  15. thesilentorator reblogged this from shortformblog and added:
    customer, I’m happy for hearing this.
  16. watchoutforthebullets reblogged this from shortformblog
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  21. pandalot reblogged this from kenshiro28 and added:
    Saw this coming. Bitches already charge me $15/month to keep my checking account open (funny enough if I have a ‘steady...
  22. kenshiro28 reblogged this from shortformblog
  23. politicalthinker reblogged this from shortformblog and added:
    Holy shit! That is...action! Great job everyone!
  24. 2minuteshate reblogged this from shortformblog and added:
    cold.” This is possibly the best evidence of crony capitalism at work. When a large company does something like this,...