Obama says BofA's debit card fee highlights need for CFPB

10/4/2011 | Wall Street Journal, The · Hill, The · Washington Post, The

President Barack Obama noted that a decision by Bank of America to impose a monthly fee on some customers who use their debit cards to make purchases is an example of why the Consumer Financial Protection Bureau is needed. Bank of America said that the fees are necessary to cover losses it is suffering due to new regulations.

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Wall Street Journal, The · Hill, The · Washington Post, The

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