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consumers, hidden fees
(Image from article: "Obama Favors Limits on Credit Card Fees")

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A debit of gratitude to Bank of America

Its planned $5 fee for using a debit card has driven out into the open other fees that were long hidden to consumers. This may be a very unpopular thing to say about Bank of America and its planned $5 monthly debit card fee, but it's worth saying anyway: Thank you, Bank of America.

Senh: The article makes a good point. It gives a good summary of how debit card fees work, and how it eventually goes to consumers.

 

Obama Favors Limits on Credit Card Fees

Obama Favors Limits on Credit Card Fees

In his weekly radio address, the president said Americans “have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all too common to our credit card industry.”.

 

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