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LEGAL TIP OF THE WEEK

BANKING GIANT TO CHARGE FEES TO THOSE LEAST ABLE TO PAY

Back in the day it was pretty common to walk into a bank and open an account without being charged fees for routine services. But those days are long gone, and one of the nation’s largest banks will now charge a $12.00 monthly fee to customers who do not maintain a daily balance of at least $1,500.00 or have at least one $250.00 direct deposit each month. These new rules apply to Bank of America’s eBanking customers, and the change prompted just over 40,000 banking customers to sign a petition protesting the fee. Fees for routine services have become the norm in the banking world, and many consumers are searching for local banks to meet their needs, without charging extra fees.

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