Profit-hungry banks are apt to levy new fees, but they can often be avoided
Consider the $5 debit card fee a mere warning shot. When Bank of America announced its plan to start charging customers for debit card purchases, it was a wake-up call that banks are hunting for ways to boost profits. The public outcry over the fee ultimately caused Bank of America and some of its competitors to abandon their plans. But that doesn’t mean the industry is done tinkering with checking accounts, which have already been significantly revamped in the past year.
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