Thursday, March 01, 2012

Bank of America considers checking account fee revamp: report

The Chicago Tribune reports:
Bank of America Corp is planning to introduce a monthly fee for its customers holding checking accounts unless they agree to bank online, buy more products or maintain certain balances, the Wall Street Journal said.

The report on the new fee initiative at the nation's second-largest bank comes after it had faced a major consumer backlash last year when it disclosed plans for a $5-per-month debit card fee, forcing the bank to drop the plan.