Bank of America says it will not go through with the debit usage fee–as proposed. Bank of America Co-Chief Operating Officer David Darnell says the corporation has listened to its customers over the proposed debit usage fee. He says the customer comes first and they want to meet their needs. Bank of America released a statement that read: “We will not be moving forward with any additional plans” to start the fee.
The proposed fee was $5 for debit card users. Last week, the bank originally said it was standing by its decision to charge the monthly fee next year–but it has since nixed that plan. Bank officials said part of their decision was made due to angered customer complaints.
Chase and Wells Fargo banks have also canceled the fees.