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Regulation

Durbin: BofA’s Debit Fee Aims To Drive Customers To Credit Cards

Capitalizing on consumer outrage over a $5 monthly debit card fee Bank of America Corp. plans to impose, U.S. Sen. Dick Durbin, D-Ill., is urging smaller banks to seize the “competitive opportunity” and go after unhappy BofA customers while suggesting the issuer would prefer its customers use credit cards instead.

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