Dick Durbin Slams Bank Of America Over $5 Debit Card Fee

Dick Durbin Slams Bank Of America Over $5 Debit Card Fee

Yesterday, Bank Of America announced it would begin charging a $5 monthly fee for some BofA customers who use their debit cards to make purchases. Not surprisingly, this did not go over well with Illinois Senator Dick Durbin, one of the leading proponents of swipe-fee reform. [More]

VISA And Mastercard Plan To Hike Debit Card Fees On Small Items For Merchants

VISA And Mastercard Plan To Hike Debit Card Fees On Small Items For Merchants

VISA and Mastercard are planning to sharply raise the debit card transaction fees for small purchases for merchants, according to an analyst note. A $2 cup of coffee incurs about an 8 cent fee currently, but under the new policy, the fee will hike to 23 cents. [More]