Bank of America Cancels Debit Fee

Bank of America scraps plan to charge $5 monthly debit card fee.
0:39 | 11/01/11

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Transcript for Bank of America Cancels Debit Fee
Score one for the people Bank of America is dropping plans to charge a debit card -- the bank caved into pressure today after several other banks decided to do away with their debit card fees. -- they had wanted to charge customers five bucks a month that they use a debit card for purchases. -- -- -- from Bloomberg TV explains why the bank backed down there's just been able rise to criticism from consumers also from. Congress members who have sad that this isn't -- bank that was bailed out and now they're turning around and they're putting the squeeze back on consumers. It's possible the bank -- -- other fees as a way to raise money from customers.

This transcript has been automatically generated and may not be 100% accurate.

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