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Bank of America to Begin Charging $5 Monthly Fee for Debit Card Usage
Bank of America to Begin Charging $5 Monthly Fee for Debit Card Usage
In light of new regulations limiting what financial institutions can charge merchants when buyers swipe their debit cards, Bank of America — the nation’s largest bank — will soon impose a $5 monthly fee on customers who use their debit cards to pay for such transactions. Anne Pace, a Bank of America spokeswoman, said the fee will only be charged when customers use their cards during merchant trans