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Monday, October 03, 2011

Debit Card Fees Irk Customers, Prompt Flight To Credit Unions

The decision by Bank of America to charge $5 debit-card fees has peeved hordes of customers, prompting a wave of online tirades and a continued flight to local credit unions.

"I've been meaning to dump my Bank of America account for a credit union for quite some time, but my laziness has kept me from doing it," one man wrote on Facebook.

"So, thank you BOA for introducing the $5 per month fee to use my debit card, that's enough motivation to finally free myself from your evil grip."

A day after the country's largest bank announced its debit fee cards, Washington's largest credit union said its branches were bustling. BECU spokesman Todd Pietzsch couldn't say for sure if the activity was due to Bank of America's news, but said the credit union was on track to break a record in new memberships Friday.

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