Big Banks Backing Off Debit Card Fees, Citing Consumer Backlash

Following eight months of consumer testing, J.P. Morgan Chase [JPM] has decided that it won’t charge customers who use their debit cards to make purchases… J.P. Morgan joins U.S. Bancorp [USB], Citigroup Inc. [C], PNC Financial Services Group Inc. [PNC], KeyCorp [KEY] and other large banks that have said in recent days that they won’t … Continue reading »

Consumers now paying ‘per-swipe’ fee on debit card purchases

First they charge up to $5.00 per transaction at the ATM machine… Now we can look forward to both monthly charges AND per swipe fees for the privilege of using a bank debit card while shopping. It’s time to start carrying cash again, consumers. Read the infuriating article in the New York Times… Related articles … Continue reading »