Bank Transfer Day: More Banks Back Off as CUs Keep Up Push
Credit unions, trades, leagues keep up offensive as banks retreat, Saturday approaches.
By Jim Rubenstein |
Updated on November 01, 2011
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The credit union industry kept up the Bank Transfer Day offensive Tuesday as two more large banks, SunTrust Banks Inc. of Atlanta and Regions Financial Corp of Birmingham, Ala., canceled new debit fee programs in response to customer backlash.
Despite the SunTrust/Regions reversal in calling off $5 and $4 fees, CUNA officials maintained that public outrage continued despite the pullbacks, which included an “evolving” attitude on Bank of America’s part as it dropped plans Tuesday for its $5 charge and Wells Fargo’s decision to suspend its $3 “test” fee.
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