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(Image from article: "Bank of America nixes $5 debit card fee")

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Bank of America nixes $5 debit card fee

Bank of America Corp. is scrapping its plan to charge a $5 monthly debit card fee. The bank's decision to drop the fee came after a roar of customer outrage in recent weeks over the fee. Other major banks, including JPMorgan Chase & Co. and Wells Fargo & Co., already canceled tests of similar debit card fees last week.

Senh: It's good to see that the banks are listening to their customers. It's also good to see that the public come together and have a positive affect on debit card fees. I only wish the airlines would do the same with their fees.

Banks design new fees as overdraft rules approach

Wells Fargo is ending its free checking account. Bank of America is testing out options. Others are expected to follow suit. The good news for bank customers this summer is that new federal rules should cut down on unexpected overdraft fees.

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