Durbin to Bank of America Customers: ‘Get the Heck Out of That Bank’

Durbin to Bank of America Customers: ‘Get the Heck Out of That Bank’

Holding up a plastic debit card on the Senate floor this afternoon, Sen. Dick Durbin, D-Ill., had some advice for Bank of America customers angry about the new $5 monthly fee: leave.

The Dodd-Frank financial law this month lowers “interchange fees” that banks can charge retailers for debit transactions. Fees for retailers will shrink from 44 cents to a cap of 24 cents, which has led some debit card issuers to seek other ways to make up that lost revenue. Some people have blamed Durbin for his amendment, which capped the so-called swipe fees that banks can charge retailers.

ABC NEWS