Tuesday, November 15, 2011

BofA, Others Quietly Boosting Fees In Wake Of Debit Fee Debacle

BofA, Others Quietly Boosting Fees In Wake Of Debit Fee Debacle

Most banks may have backed away from the debit fee idea, but they're still nickle and diming customers in other ways.

Banks such as Bank of America, U.S. Bancorp and TD bank are quietly quietly upping various fees on mobile deposits, lost debit cards and other services, The New York Times reports. The banks' focus on fees is an effort to recoup an estimated $12 billion a year that disappeared as result of financial reform legislation curbing overdraft charges and swipe fees, according to the NYT.

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