That's the Way the Cookie Crumbles
Bank of America faced extreme criticism by consumers and political figures for trying to take back the cookie. The baked idea that Bank of American tried in this instance was new fees on its debit cards imposed on debit card users.
Other big banks are not following the Bank of America's recipe for disaster. J.P. Morgan Chase & Co. may have seen how consumers gagged on the taste of the new debit card fees. It has recently decided that it won't charge customers who make purchases. J.P. Morgan followed U.S. Bancorp, Citigroup Inc., PNC Financial Services Group Inc, and other large banks that have recently announced a policy of no new monthly fees on debit cards.
The other banks still with plans to charge monthly fees on debit card users are SunTrust Banks Inc., Atlanta, and Regions Financial Corp. of Birmingham, Alabama, and Wells Fargo & Co.
Most of the rankled refugees from debit cards fees are moving to small institutions that don't charge debit card fees, such as credit unions. That's the way the cookie crumbles.
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