Bank of America customers aren't the only ones upset over the new $5 per month debit card fee. Turns out some government officials think debit card fees are outrageous, too, and are trying their best to get banks to back off, according to CNN.com.
Treasury Secretary Tim Geithner says the banks are trying to weaken the reforms that put a $0.21 cap on per-transaction debit card fees. He assures Bank of America customers that although banks are trying to blame the government for problems they helped to create, the government will prevail over unfair charges.
Senator Dick Durbin is encouraging customers who are charged outrageous fees to switch banks. I say this is a perfect chance to switch to a credit union, and if you live or work in Wayne, Oakland or Macomb County . . . Michigan First is the place for you!
What do you think? Would you leave your financial institution if they started charging a monthly debit card fee? Leave it here or on Facebook!