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Bank of America dumps $5 debit card usage fee

from Convenience Store News

Bank of America was the first to impose a debit card fee following the passage of Sen. Richard Durbin's, D-Ill., swipe fee reform bill, which significantly trimmed the maximum amount a bank can charge for debit card transactions. The move, widely championed by convenience store owners and NACS, was not welcomed by banks due to revenues the financial institutions would lose. Therefore, many of them decided to impose a debit card fee or test the possibility of such fees by implementing state or regional programs. more

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