Bank of America Should Drop Plan for Fees, Consumer Reports Says
The advocacy arm of Consumer Reports magazine said customers of the Charlotte, North Carolina-based company should consider switching to another bank, according to a statement today. The bank previously abandoned plans to charge some debit card users $5 a month.
“It looks like Bank of America is up to its old tricks,” Norma Garcia, manager of Consumers Union’s financial services team, said in the statement. The bank, ranked second by deposits in the U.S., risks “losing even more customers who are tired of being nickeled and dimed at every turn,” she said.
To contact the reporter on this story: Hugh Son in New York at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.