Thursday, September 13, 2007

Banks Move Like a 'School of Fish' on Fees

Did they mean fish or sharks?

More rankle and furvor over BofA's decision to bump ATM fees to $3 per transaction. This from the Sept. 13 USA Today:
The development will likely lead other banks to raise their ATM fees, too. "Banks often move like a school of fish on punitive charges such as ATM surcharges and credit card late fees, so it's just a matter of time before others follow suit," says Greg McBride, a senior analyst at Bankrate.com (RATE).

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