Two More Banks Retreat On Debit Fees
The big banks' race to backpedal on controversial debit card fees has picked up speed.
Reporter: CNN, Posted By Marques White
Posted: 10:16 PM Oct 31, 2011
SunTrust (STI, Fortune 500), a large regional bank based in Atlanta, announced Monday that it will no longer charge $5 a month for debit card purchases starting Wednesday. Shortly afterward, Alabama-headquartered Regions Bank (RF, Fortune 500) said it will nix its $4 monthly fee on Tuesday.
Additionally, both banks said they will refund any customers previously charged the fee. SunTrust began charging the fees in June, Regions in October.
Monday, October 31, 2011
ARE THE MOTU A LITTLE SCARED OF OWS?
I suggested that below and now two more large banks are rolling back debit card fees:
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