Bank of America, and other major banks, will not charge customers monthly to use their debit cards — but banks will find ways to make up the difference.
Big banks have backed off of the idea of debit card fees for now in the wake of backlash against Bank of America's plan. But where will banks try to make money going forward?
After major backlash following Bank of America's decision to charge $5 for debit cards, other big banks across the country are deciding against the practice.
Los Angeles Councilman Richard Alarcon is pushing a "banking responsibility ordinance" that would require banks doing business with the city to invest in the community.
An art gallery owner who's fed up with corporate banking established Nov. 5 to be the deadline for people to shift their money from big banks to smaller credit unions.