Banks: Maybe Debit Card Fees Are a Bad Idea
Not so long ago, Bank of America decided that a good way to refill its slightly-less-bulging-than-usual pockets would be to charge people a monthly fee for their debit cards. "This won't cause a massive public backlash at all, probably," they thought to themselves, while setting a box of puppies aflame.
That turned out to be a miscalculation. So the rest of America's monster banks have prudently decided to gouge consumers in other, less noticeable ways.
Following eight months of consumer testing, J.P. Morgan Chase & Co. has decided that it won't charge customers who use their debit cards to make purchases, according to a person familiar with the bank's plans.
Consumer testing? Pish posh! You'll pay your fees and you'll like it! What are you going to do... Occupy Wall Street?
Of course, once the last poor person is priced out of consumer banking, there is no limit to the fees that will rain down from above like the very apocalypse.
