Bank America encourages customers and retailers to take part in its BankAmeriDeals. Bank of America released its online and mobile cash back deals program nationally, so that with the click of a button, customers can choose deals they want through the company’s online banking and mobile banking app. With BankAmeriDeals, customers can get deals from…

Retailers may have won the right to debit fee caps for now, but banks are raising fees and pointing the finger at merchants, while some lawmakers look to repeal the interchange caps. By Erin Rigik, Associate Editor. The long awaited Durbin Amendment went into effect on Oct. 1, capping interchange fees well above the 7-12…

After its competitors dropped their planned fees, and faced with public backlash, BOA cuts plans for a new debit fee. Bank of America Corp. (BOA), which announced plans for a $5 monthly debit card fee in late September, has abandoned the idea following nationwide backlash from consumers and lawmakers, Bloomberg reported. The bank fee would…

“Statements made by individual banks and their trade associations raise questions about whether some price increases that have occurred this year have actually been coordinated,” says Chief Deputy Whip Peter Welch. Amid widespread outrage over new debit card fees charged by Bank of America and other big banks, Chief Deputy Whip Peter Welch (D-Vt.) and…

Two U.S. House lawmakers plan to introduce a bill to repeal a Federal Reserve rule capping debit-card swipe fees, Bloomberg reported today, Oct. 12. Representatives Jason Chaffetz, a Utah Republican, and Bill Owens, a New York Democrat, are introducing a measure later today to repeal the rule required under the 2010 Dodd-Frank Act, John Hadlock,…