Saw on the news today that Bank of America is charging this $5 a month on debit cards to make up for lost revenue from the "Can only charge vendors half of what you've been charging them before" law.
So, since this new law will apparently cost BoA so much money, they need to charge, as someone else correctly points out, the little people money they can't afford to make up for that loss.
By charging debit card holders $5 a month BoA will end up making 13% more revenue then they were making before the law went into effect.
The charge is bulls--- and BoA are the poster child for bank greed.
__________________
|