Rumors continue to swirl around Facebook’s imminent initial public offering. According to Bloomberg, the social media giant has chosen “to take the lead on its planned initial public offering, four people with knowledge of the matter said.” Facebook will file with regulators today in order to raise an initial $5 billion, though Bloomberg reports that [...]
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Bank of America, cowed by customer outrage and bad press and by the quick retreat of its biggest competitors from charging similar fees, has ditched their $5 monthly debit card fees. “We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said [...]
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by Erik Kain on October 28, 2011
Bank of America is reconsidering its plan to charge $5 monthly debit card fees after public outrage has caused several other large banks to drop their own plans to charge similar fees. Bank of America is reconsidering its controversial move to charge monthly debit card fees after a wave of other big banks have dropped [...]
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by Erik Kain on October 16, 2011
Bank of America’s decision to charge $5 monthly fees for debit card users has been met with consumer backlash, calls for boycotts, and the start of a migration away from the big bank to smaller banks and credit unions. The purported reason for the new fees traces back is the so-called ‘Durbin amendment’ – a [...]
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by Erik Kain on October 1, 2011
When Bank of America decided to start charging its customers a $5/month fee for using debit cards, people all across the internet were up in arms. This struck me as wrong-headed off the bat. Five dollars is hardly price-gouging, and paying for a service like debit or checking strikes me as a reasonable idea. Kevin [...]
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E.D. Kain is a blogger and freelance writer. Currently he serves as Editor-in-Chief of The League of Ordinary Gentlemen and writes a policy blog at Forbes. He can be found occasionally composing 140 character cultural analysis on Twitter. His writing has appeared in The Atlantic, The National Review, The Washington Examiner, and the now-defunct True/Slant.
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