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Friday, October 28, 2011

Some Big Banks Back Down From Debit-Card Fee

Bank of America triggered outrage among customers last month when it announced plans to impose a $5 monthly fee next year for using a debit card. Even President Barack Obama weighed in, saying banks shouldn't take advantage of their customers.

But other big banks are not following in the steps of the nation's No. 2 bank. And now Bank of America itself seems to be wavering in its resolve.

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