'A debit of gratitude to Bank of America'

from latimes........

"The big bank's move created a consumer furor, with consumer activists proposing boycotts by or mass defections of BofA customers to smaller banks without fees, and the bank itself becoming a popular symbol of the financial industry's supposed disregard for the average customer.

But its action has a lot to recommend it. First and foremost, it has driven out into the open the real cost of what long has been pitched as a great consumer convenience. That's a testament to the wisdom of the so-called Durbin amendment, named after Sen. Richard Durbin (D-Ill.), who got it inserted into the Dodd-Frank bank regulation bill last year"............READ MORE