How higher bank fees might actually help consumers
http://dervishcom.blogspot.com/2011/10/how-higher-bank-fees-might-actually.html
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Few seem terribly pleased with Bank of America's decision to charge its users $5 every month they use their debit cards. BofA blames Congress for passing the Dodd-Frank Act, claiming the law's new regulations are responsible. The law, which was implemented in June, restricts the fees that banks can charge merchants when customers use debit cards to pay, lowering them from 44 cents to 24 cents. BofA claims that it is charging the new fees to recoup the lost money. But the retailers who lobbied hard for the new swipe-fee regulations insist that customers could still benefit from the changes — on their end of the equation, at least.
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Source: http://feeds.washingtonpost.com/click.phdo?i=07c086d6c5e8b39509619800bb175cce
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