The news you're not supposed to know...

Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
Article posted Sep 30 2011, 3:14 AM Category: Economy Source: Forbes Print

BofA's New $5 Debit Card Fee? Blame Dodd-Frank

Halah Touryalai, Forbes Staff

The inevitable happened today. Bank of America said it will start charging customers a $5 monthly fee on debit card purchases.

Where’s this coming from? Well, anyone paying attention to the Durbin Amendment (which came out of the Dodd-Frank Act) as it was moving through Congress would have seen this fee coming. The Durbin Amendment essentially limits the amount of money banks collect from merchants, like Target for instance, each time you use your debit card there.

Back in June I said that that while placing a cap on those debit card fees might be great news for retailers it would be bad news for customers. Why? Because now that the Durbin Amendment goes into effect October 1 banks will have less money coming into their pockets from the retailers. Where do you think they are going to make up for that lost revenue? You got it–me and you.

Read More

Latest Economy
- Uber's Peaceful Revolution
- Failure to Launch
- Federal Government Pay Exceeds Most Industries
- Right Now There Are 102.6 Million Working Age Americans That Do Not Have a Job
- Canada Wants To Cut Price Of 'World's Most Expensive Drug'; US Manufacturer Sues To Stop It
- That $750 Generic Pill Is a Pure Artifact of Regulation
- Shopping for Soulmates
- People Are Freaking Out About This Janet Yellen Speech

Comments 1 - 2 of 2 Add Comment Page 1 of 1

Posted: Oct 02 2011, 11:17 AM

17425 That's why dumped them A-holes like a turd, and if us bank pulls some shit like that I will be done with them as well and then off to the credit union I go.

Posted: May 11 2014, 8:59 PM

12560 Citigroup Inc. is one of the biggest multinational financial services corporation that holds over 200 million customers. When economic downturn occurs, this company is making serious push for charge card customers and promotes through mail in a large way. Source:

Add Comment


Verification *
Please Enter the Verification Code Seen Below

Please see our About Page, our Disclaimer, and our Comments Policy.

This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy

Advanced Search


Remember Me
Forgot Password?

School Cop Tells 16-Yr-Old Student He "Ruined His Life" By Smoking Pot Before Homecoming Dance, Student Commits Suicide - 10/07VIDEO: Dashcam Refutes Cop's Story of "Fearing For His Life," Shows Him Taser Man For Parking Ticket - 10/06Drudge on AJ: Copyright Laws Will Destroy the Internet - 10/06Woman Called 911 to Report Stolen Wallet, Crazed Cop Showed Up and Beat Her Unconscious - 10/06"Elections Are Fixed and US Created ISIS," Rage Against The Machine Bassist Lets Them Have It - 10/0733 Heroes Are Possibly Dead and No One Cares Because They Aren't Cops - 10/07A Major Win For The Opponents of The 'War On Drugs' - 10/07'Neutralizing' John Lennon: One Man Against The 'Monster' - 10/06

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up