Outraged Customers Force SunTrust To Drop Debit Card Fees

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SunTrust announced last night it will stop charging customers $5 a month to make debit card purchases. Wells Fargo and Chase have also dropped fees. Pressure is now on Bank of America, which has already said it would scale back new fees.A Consumer Union leader said in a statement: “It’s time for Bank of America to join other major banks and drop its plan to charge a monthly debit card fee. For many consumers, the Bank of America debit card fee was the last straw.  They’re fed up with banks that got billion dollar bail-outs that are now sticking customers with new fees.  Many are moving their money to credit unions and banks that don’t charge debit card fees. We think that will add a healthy dose of competition to the banking business that will benefit consumers in the long run.”

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