RILA Comments on Bank of America Announcement to Abandon Debit Fee Charge11/01/2011
The Retail Industry Leaders Association (RILA) issued the following statement in response to Bank of America’s decision to abandon its plan to charge new fees on debit card users.
“Today’s news is proof-positive that consumers remain swipe fee reforms biggest winners. Bank of America and its big bank peers are no longer free to fleece merchants and consumers at will. This outcome is just what consumers deserve, what reform advocates predicted and what we will fight to extend to the credit card market,” said Katherine Lugar, executive vice president of public affairs.