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Survey Shows 650,000 Bank Customers Switched to Credit Unions

Shauna Wright — Tue, 08 Nov 2011 16:12:59 +0000

While Bank of America and other major banks have now scrapped a widely-derided plan to charge customers a monthly fee for using their debit cards, a new survey shows at least 650,000 people closed their accounts with those banks in the past month and fled to more consumer-friendly credit unions.

Bank of America Will Not Charge Monthly Fee for Debit Card Usage

Shauna Wright — Tue, 01 Nov 2011 21:05:34 +0000

In September, Bank of America announced it would soon begin charging customers a $5 monthly fee for using their debit cards, saying it was recouping losses from new laws that limited how much it could charge merchants when debit cards were swiped during transactions.

But after a firestorm of negative publicity, BofA waved the white flag of surrender and scrapped the controversial plan.

Florida-Based Community Bank to Pay Customers for Their Business

Shauna Wright — Sat, 15 Oct 2011 13:35:29 +0000

In response to Bank of America’s recently announced $5 monthly fee for debit card usage, Florida-based Community Bank is doing the reverse — it’s paying customers to bank with them.

Termites Devour Millions Worth of Indian Rupees

Amory Gritta — Wed, 27 Apr 2011 14:00:26 +0000

Any homeowner with a recent termite infestation will tell you that termites do not discriminate when it comes to feeding time.

A bank in India learned this the hard way after a herd of termites infiltrated their otherwise secure establishment and devoured over 10 million rupees ($220,000) from their own stash.