Moynihan defends Bank of America's fee on debit cards

10/7/2011 | CNNMoney

Brian Moynihan, chief executive officer at Bank of America, said that shareholders and customers understand that his company has a "right to make a profit," as he defended the decision to levy fees on customers who use their debit cards to make purchases. Mr. Moynihan said the bank has worked to ensure the fee is clear and transparent.

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