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.
Top Posts & Pages
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- Bids on reworking Interstate 55 stretch are rejected
- JACK WEATHERLY: Finding a house, defending a neighborhood, finding a voice
- Terminal upgrade on indefinite hold at Jackson International Airport
- Report ranks state schools' performance 51st in the nation
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- CFPB wants repay ability at center of new payday loan rules
- Two new casinos like the odds on Mississippi Gulf Coast
- Hosemann to launch crowd funding program