Banks defend debit-card fees amid pressure from Washington

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The banking industry on Tuesday defended a controversial new fee on debit cards as some Democrats called on consumers to abandon financial institutions that impose the charge.

Rep. Brad Miller (D-N.C.) introduced a bill that would make it easier for customers to close their accounts and prohibit banks from assessing fees for the process. Meanwhile, Sen. Richard J. Durbin (D-Ill.) sent a letter to community banks and credit unions in his home state urging them to "seize this competitive opportunity" to woo consumers away from larger institutions.

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Ylan Q. Mui 05 Oct, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=d4f679cbca19a179d0be668ee726dc92
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