Bank of America nixes $5 debit card fee

NEW YORK (AP) — Bank of America Corp. is nixing its plans to charge a $5 monthly debit card fee.

The bank said Tuesday that the decision to scrap the plan came after listening to customer feedback in recent weeks.

The news comes after other major banks, including JPMorgan Chase & Co. and Wells Fargo & Co., said last week that they were canceling tests of similar debit card fees.

AP Photo/Alan Diaz

A customer stands at a Bank of America ATM in Hialeah, Fla. Bank of America Corp. is scrapping its plans to charge a $5 monthly debit card fee. The bank's decision to drop the fee came...