Bank of America Shies Away From New Fees

It called off a plan for new checking charges until sometime next year.

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The Wall Street Journal reports BofA will postpone a plan to charge consumers more for checking, but that article is behind a paywall. From a Reuters summary:

Bank of America Corp, the second largest U.S. bank, is holding off on plans for new checking-account fees that could have affected some 10 million customers by year’s end, avoiding a possible repeat of last year’s protests over consumer banking fees, the Wall Street Journal reported on Saturday.

The move to back off on its plan at least until late 2013 comes amid a review of Bank of America’s retail banking business, the Journal reported, citing people familiar with the bank’s plans.

Funny how crowds of angry customers can make a company hesitate.

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