Saturday, March 03, 2012

Bank Of America Didn't Learn Its Lesson, Might Be Instituting Checking Fee - The Consumerist

http://consumerist.com/2012/03/bank-of-america-didnt-learn-its-lesson-might-be-instituting-checking-fee.html

' Bank of America dropped a $5 monthly fee for debit card use not too long ago after its customers rallied together to protest the plan, which subsequently was dropped.

The checking account fee plan is reportedly being tested in a few states now, under the name "Essentials" account. It charges customers $6 to $9 a month. Other options could charge $12, $15 and even $25, unless customers maintain minimum balances, use a credit card or take a mortgage out with BofA.

"It looks like Bank of America is up to its old tricks," said Norma Garcia, manager of Consumers Union's financial services team.'

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