What next for banks after failed debit fee experiment?
Large banks enacted fees after government let merchants pay less for each debit card transaction
by Ted Carter
Published: November 13,2011
Dead in a near blink of an eye.
That’s how history will chronicle the big idea banks had for ginning up revenue through a monthly fee to customers for debit-card transactions.
Perhaps you can blame awful timing. Parks in cities across the nation began filling up with protests against Wall Street and the banking system at about the same time the likes of Chase, Wells Fargo, SunTrust and Regions initiated their fees. While the fees didn’t cause the protests, their roll out gave the demonstrators one more grievance and account holders extra aggravation.
The public directed much of its ire at…
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Panther Creek megasite — Putting a value proposition out there
- BBB issues warning involving asphalt paving scam
- Prescription for success — Transcript Pharmacy continues fast growth
- Study: Mississippi has highest sales tax rate in U.S.
- Panther Creek's location in medical industry zone boosts bio-med prospects
- Mississippi State makes NSF ranking of research universities
- TVA president/CEO Johnson tours Techumseh, Yokohama plants
- Sawtimber, pulpwood markets improving, but challenges remain
- News The Way You Want It!
- Chris McDaniel responds to radio show audio clip